The price of Dogecoin (DOGE) has finally pulled back above the moving average lines after encountering resistance at $0.19.
Long-term DOGE forecast: bullish
Buyers are defending the altcoin as it has rallied above the 50-day SMA support. DOGE is trading above the moving average lines but below the resistance at $0.19. Now DOGE is dropping towards the moving average lines.
On April 30, the altcoin rebounded after retesting the moving average lines. However, the uptrend will begin if the moving average lines remain stable. DOGE will reach a high of $0.25 once the current barrier is broken. DOGE will fall to a low of $0.14 if the price falls below the moving average lines.
Dogecoin indicator reading
The price bars fluctuate above the moving average lines. DOGE will rise if the altcoin stays above the moving average lines. The horizontal moving average lines indicate the sideways trend.
On the 4-hour chart, the price bars are located between the moving average lines. This indicates that the altcoin’s movement will continue within a certain range.
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 is still trading in the positive trend zone, even though the rising trend has been halted. On the 4-hour chart, the altcoin is moving sideways, above the $0.17 support but below the $0.19 resistance.
The first barrier to the uptrend is at $0.185. The altcoin’s uptrend will start when the bulls break through the resistance levels at $0.185 and $0.19. The sideways movement will continue as long as the barriers remain.
Coinidol.com reported on April 26, 2025 that DOGE was trading in the uptrend zone at $0.186.
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.
