Dogecoin Remains Stable And Moves In A Small Range

The latest price analysis by Coinidol.com report, Dogecoin (DOGE) price has remained stable above $0.059 support.

Dogecoin price long-term forecast: in the range

The value of cryptocurrency is neither falling nor rising. It is capped between $0.059 and $0.063. Doji candlesticks have dominated the price movement, so the altcoin has moved modestly. The doji candlesticks show the trader’s disinterest in the direction of the market. At the time of writing, the altcoin is trading at $0.061. On the downside, the bulls have spent the last month defending the current support level of $0.059 per coin. On the plus side, the 21-day line has kept SMA DOGE in check. The coin is currently trading in a tight range above the $0.059 support.

Dogecoin indicator display

Dogecoin has been holding at level 39 of the Relative Strength Index for the past 14 days. DOGE is trading with a slight loss as price bars are below the moving average lines. The bearish momentum has stalled below the Stochastic daily level of 40.

Technical Indicators

Key resistance levels – $0.12 and $0.14

Key support levels – $0.06 and $0.04

What is the next direction for Dogecoin?

DOGE is expected to remain in a range as long as doji candlesticks exist. As DOGE remains above current support, the upward correction has stalled below the 21-day line SMA. Price action has stalled between the two ranges. The price of DOGE will either rise or fall as it trades in a narrow range.

On September 12, 2023 cryptocurrency analytics specialists of Coinidol.com stated that on September 10, the cryptocurrency value fell even further, reaching a low of $0.059. The decline has slowed down as the bulls bought the dips. 

Disclaimer. This analysis and forecast are the personal opinions of the author and 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.

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• Source: https://coinidol.com/dogecoin-remains-stable/