DOGE Moves Sideways Above Its $0.34 Support

Cryptocurrency price analysis brought by Coinidol.com. The price of Dogecoin (DOGE) has remained stable above the support level of $0.35.

Dogecoin price long term forecast: in the range 

The price of the cryptocurrency remains below the moving average lines, although it is in the middle of the price range of $0.30 to $0.40. The price of the altcoin remains stationary above the current support level as it consolidates. If the buyers keep the price above the moving average lines, DOGE will reach the next resistance at $0.40. Later, it will reach a high of $0.48. 

On the other hand, if the buyers are pushed back from the moving average lines, DOGE will fall to a low of $0.30. DOGE is now worth $0.354.

Dogecoin indicator display

On the 4-hour chart, DOGE is trading sideways above the $0.34 support but below the moving average lines. The 21-day moving average lines have hindered upward movements. If DOGE loses the current support, it will fall to its previous low above $0.30. Similarly, the price will rise once it crosses above the 21-day moving average line.

Technical indicators

Key resistance levels $0.45 and $0.50

Key support levels – $0.30 and $0.25

What's next for Dogecoin?

On the 4-hour chart, DOGE is moving sideways, above the $0.34 support but below the moving average lines. Rising moves are hindered by the 21-day moving averages. If DOGE loses its support, it will fall to its previous low above $0.30. Conversely, it will rise if it breaks above the 21-day moving average line.

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.