Dogecoin Halts Its Slide above $0.135

The Dogecoin price has dropped below the moving average lines and achieved the forecasted price level of the 2.0 Fibonacci extension, or the $0.1318 low.

Dogecoin price long-term prediction: bearish

On November 21, DOGE fell to a low of $0.1333 before recovering. The cryptocurrency asset is trading above $0.13 as buyers try to push the price above the $0.14 support.

On the downside, if the bears break through the $0.13 support, selling pressure will resume. DOGE will drop to a low of $0.10. Later, the bearish momentum will extend to the October 10 price level of $0.08.

On the upside, if buyers push the price above the $0.14 support level, DOGE will cross the 21-day SMA. A break above the moving average will push DOGE to a high of $0.26. DOGE is now worth $0.14.

Dogecoin indicator reading

DOGE is declining, as indicated by the downward-sloping moving average lines. The rising price trend has been restrained by the 21-day SMA resistance. On the 4-hour chart, the moving average lines are sloping downward, indicating that the cryptocurrency is declining. The price activity is dominated by tiny, uncertain Doji candlesticks.

What is the next direction for Dogecoin?

DOGE’s drop has stalled above the $0.135 support level on the 4-hour chart. According to the price projection, DOGE’s slide should have halted above the $0.13 support.

Today, the cryptocurrency is stabilizing above the $0.135 support. The cryptocurrency is trading above the $0.135 support level but below the moving average lines. DOGE will trend after these thresholds are breached.

Disclaimer. This analysis and forecast are the personal opinions of the author. The data provided is collected by the author and is not sponsored by any company or token developer. This is 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.