Coinidol.com: DOGE Drops to $0.087 Bottom Price

Dogecoin's price has been moving sideways since its drop on February 5.

DOGE price long-term prediction: ranging

The cryptocurrency continued to fall, reaching a low of $0.080, but bulls bought the dips. For the past three weeks, the price has been range-bound, remaining above the $0.088 support and below the moving average lines. Three times buyers attempted to push the price above the 21-day SMA but were repelled.

Today, the altcoin has fallen below the 21-day SMA support and reached a low of $0.090. The decline has stalled as the altcoin resumes its range-bound movement above the $0.088 support but below the moving average lines. DOGE is now at $0.090.

Technical indicators

• Resistance Levels $0.45 and $0.50

• Support Levels – $0.30 and $0.25

Dogecoin indicator reading

The price is stabilising below the horizontal moving averages. The 21-day SMA acts as a resistance line to the price bars, impeding upward movement. On the 4-hour chart, the moving average lines are horizontal, while the price moves both below and above them, indicating a sideways trend.

What is the next direction for Dogecoin?

DOGE's price is consolidating near the bottom of its chart. The price is trading above the $0.080 support. In recent price action, the altcoin fell to a low of $0.079 but recovered.

On the 4-hour chart, the price has slipped below the moving average lines, continuing its sideways movement. The price movement has slowed due to Doji candlesticks.

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.