Dogecoin (DOGE) has continued its uptrend above the moving averages. The altcoin rose to a high of $0.143 before pulling back and staying above the 50-day moving average line.
DOGE price long-term prediction: bullish
DOGE will continue to move higher as it finds support above the 50-day SMA. It is predicted to reach a high of $0.18 if buyers maintain the upward momentum.
However, if Dogecoin breaks above the $0.18 resistance, it will go much higher to $0.20. However, if DOGE fails at the $0.18 level, it will fall and hit a low of $0.12. In the meantime, DOGE remains above the moving average lines after the July 20 price breakout.
Dogecoin indicator reading
DOGE will continue to rise as the price bars remain above the moving average lines. The initial hurdle at $0.14 and the doji candlesticks have slowed the price movement. The sideways trend means that the moving average lines on both charts are horizontal.
Technical indicators
Key Resistance Levels $0.22 and $0.24
Key Support Levels – $0.14 and $0.12
What is the next direction for Dogecoin (DOGE)?
DOGE prices have resumed their upward trend after breaching above the moving average lines. The bullish trend has started above the moving average lines. The upward trend is meeting an initial resistance near the $0.14 high. DOGE will begin its uptrend if the initial barrier is breached; otherwise, the sideways movement will continue.
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.
