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.

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.