Coinidol.com: Dogecoin Continues to Hold above $0.080

Dogecoin's price has remained above the $0.080 support since February 5.

DOGE price long-term prediction: bearish

Negative momentum has retested the $0.080 level twice but was rejected each time. Over the past week, the cryptocurrency price has fluctuated above the $0.080 support level but below the moving average lines.

Technical indicators

Resistance Levels $0.45 and $0.50

Support Levels – $0.30 and $0.25

Dogecoin price indicators reading

The moving average lines are sloping southward, with the price bars positioned below them. Doji candlesticks, which indicate indecision and slow price movement, characterise the price action.

On the 4-hour chart, both the 21-day and 50-day SMAs are declining. The 21-day SMA acts as a resistance line for the price bars. Each time the 21-day SMA barrier is retested, the crypto price falls.

What is the next direction for Dogecoin?

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.