Dogecoin Remains Above $0.090 As Traders Remain Undecided

Dogecoin (DOGE) price is declining but remains above the $0.09 support. Dogecoin price analysis by Coinidol.com.

Long-term outlook for DOGE price: bearish

Since August 5, Dogecoin has reversed its decline and started a range-bound rise above the $0.090 support. The altcoin had previously fallen to a low of $0.080 before recovering, as reported by Coinidol.com.

On the upside, the 21-day SMA or resistance at $0.11 has beaten the cryptocurrency back twice. 

However, if the current support is breached, the altcoin will fall to its previous low of $0.080. According to the price signal, the downward momentum will continue to the low of the 1.618 Fibonacci extension or $0.058. In the meantime, DOGE is trading above its current support at $0.10.

Technical indicators

Key resistance levels $0.22 and $0.24

Key support levels – $0.14 and $0.12

Dogecoin price indicator reading

The price bars are capped below the moving average lines while in a range. Doji candlesticks are indecisive candles that reduce price volatility. The Doji candlestick represents traders' indifference to the market direction.

What's next for Dogecoin?

DOGE has maintained its movement above the $0.090 support. The altcoin is trading in a limited range of $0.090 to $0.11. Since August 11, the price has held steady above the $0.010 support. The altcoin will fall if it loses its current support at $0.090.

Disclaimer. This analysis and forecast are the personal opinions of the author. They are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol.com. Readers should do their research before investing in funds.