Dogecoin (DOGE) Continues Uptrend after the Recent Dip

Price analysis by Coinidol.com. Long-term forecast for the Dogecoin price: bullish The price of the cryptocurrency has made a series of higher highs and higher

Dogecoin (DOGE) price analysis reveals that the meme coin has continued its bullish momentum after recovering from the recent downturn. Key technical indicators suggest that DOGE faces immediate resistance at $0.45 and support at $0.35 on the 4-hour chart. Breaking through these levels could determine the next directional move for Dogecoin.

Dogecoin price analysis: Higher highs and lows before the rally

On the daily chart, the price of DOGE has formed a series of higher highs and higher lows before commencing its rally. The bullish momentum has been sustained, with the bulls breaking through the $0.22 and $0.30 resistance levels.

Moreover, the uptrend extended to a high of $0.439 on November 12 before pulling back lower again. Notably, DOGE trades above the $0.35 support level but below the resistance at $0.45.

If the bulls can push through the current overhead level, the altcoin could rally to reach a high of $0.50. Conversely, DOGE might decline if it loses its current support at $0.37.

Dogecoin indicator analysis

On the daily chart, the price bars are above the sloping moving average lines, indicating that the uptrend is intact. However, the price bars are below and above the horizontal moving average lines. This suggests that DOGE is currently in a rangebound movement. Doji candlesticks have slowed price activity.

Technical indicators

Resistance Levels $0.45 and $0.50

What's next for DOGE?

On the 4-hour chart, we observe that DOGE has stalled in a sideways trend after meeting resistance at $0.439. The price of the meme coin is stabilizing above the support at $0.35 but below the resistance level at $0.40.

The uptrend will resume once the bulls break above the resistance at $0.45. Similarly, the altcoin will fall if the $0.35 support is broken.