Dogecoin Continues To Slide But Holds Above $0.17

The price of Dogecoin (DOGE) has fallen again after reaching resistance at $0.20.

DOGE price long-term prediction: bearish

When the selling pressure eased above the $0.14 barrier on March 11, it reversed to the upside, as reported by Coinidol.com.

Currently, the cryptocurrency is in a range between the $0.14 support and the $0.20 resistance. DOGE is falling towards the lower price range. The altcoin will fall further to the lows of $0.090 and $0.080 if the $0.14 support is breached. Apart from that, the downside momentum will continue to the low of $0.048 or the 2.0 Fibonacci extension.

On the other hand, DOGE will continue its move below the resistance at $0.20 if the support at $0.14 holds.

Dogecoin indicator reading

The moving average lines on the weekly chart are trending upwards, indicating an uptrend. The downtrend is indicated by the moving average lines on the daily chart sloping south. The bearish trend is indicated by the 21-day SMA being below the 50-day SMA. 

Technical indicators

Key Resistance Levels $0.45 and $0.50

Key Support Levels – $0.30 and $0.25

What's next for Dogecoin?

DOGE's slide continues after rejecting the high at $0.20.If the altcoin falls back and breaks the $0.14 support, the selling pressure will continue. The sideways movement will continue if the $0.14 support holds.

In the meantime, the altcoin has retraced and stalled just above the $0.17 support level.

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.