The price of Dogecoin (DOGE) has started its uptrend as buyers have pushed the price above the moving average lines.
DOGE price long-term prediction: bullish
Since April 7, as Coinidol.com wrote, bulls and bears have been engaged in a price battle over the price of the altcoin, which has been fluctuating above the $0.14 support and below the moving average lines. The bulls have taken the lead since breaking above the moving average lines. The buyers are pushing the price above the moving average lines for the first time since January 21.
Once the buyers break the barrier at $0.20, DOGE will continue its uptrend. The altcoin will continue to rise until it reaches a high of $0.28.
However, if DOGE fails to break the high of $0.20, it will start a sideways trend below this level. DOGE is currently trading in the uptrend zone at $0.186.
DOGE price indicator analysis
DOGE will rally if the price bars return above the moving average lines. Nonetheless, the $0.20 barrier has hindered the cryptocurrency’s uptrend.
The altcoin will rise if DOGE finds support above the 50-day SMA. The northward slope of the moving average lines indicates the current upswing.
Technical indicators
Key Resistance Levels $0.45 and $0.50
Key Support Levels – $0.30 and $0.25
What is the next direction for Dogecoin?
DOGE has broken above the moving average lines, signaling the start of its uptrend. It is trading above the moving average lines but below the barrier at $0.20. The market will continue to rise once the $0.20 barrier is breached.
However, if the bears break the 50-day SMA support, the market will drop to a low of $0.14.
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.
