Dogecoin (DOGE) Technical Analysis

Dogecoin (DOGE) price continues to face stiff resistance at the downtrend line, which indicates that the bears are aggressively defending this level. A small piece of positive news comes as the bulls do not allow the price to break below the 20-day EMA ($0.23) and continue. If the bulls fail to push and sustain the price above the downtrend line, a break below the 20-day EMA will become more likely. This could push the price towards the strong support zone between $0.21 and $0.19. The bulls are expected to fiercely defend this area. A strong recovery from this support zone will signal a possible range-bound move between $0.19 and $0.27 for a few days. If DOGE price rises and closes above $0.27, the trend will turn in favor of the bulls. Dogecoin could then rally to $0.32 and then to $0.35.