The price of Dogecoin (DOGE) is rising in a series of higher highs and lower lows. Today, the market has risen to a high of $0.33 from a low of $0.28.
Long-term price forecast for Dogecoin (DOGE): bullish
DOGE is likely to rise and retest the $0.35 resistance level. Nonetheless, the current price is moving sideways, as evidenced by small indecisive candles.
These candlesticks indicate that buyers and sellers are unsure about the market’s direction. If the DOGE price rises and breaks through the $0.35 resistance level, the altcoin will reach $0.45. Dogecoin, on the other hand, will fall to the previous low at $0.28 or $0.21 if the altcoin turns away from the current resistance.
Indicator value for Dogecoin (DOGE)
On the Relative Strength Index for period 14, the price of Dogecoin is at level 68. The cryptocurrency is on the verge of becoming overbought. The DOGE/USD pair does not have enough room to rise. DOGE is trading above the daily stochastics’ 70% area. This indicates that the market is in a bullish trend.
Major resistance levels are $0.80 and $0.85, according to technical indicators.
Significant Support Levels – $0.30 and $0.25
What is the future of Dogecoin (DOGE)?
Dogecoin is likely to rise once more. The price of DOGE is rising to retest the $0.35 resistance level. Meanwhile, a retraced candle body tested the 61.8 percent Fibonacci retracement level on August 15 uptrend. The retracement indicates that DOGE will rise to the 1.618 Fibonacci Extension, or $0.45.