Dogecoin Price Prediction: DOGE stays above key SMA but nearby resistance probes buyers
|- DOGE/USD picks up bids above 200-bar SMA, remains inside three-week-old symmetrical triangle.
- Momentum favors bulls, triangle’s support adds filters to the south-run below the key SMA.
Dogecoin keeps the previous day’s bounce off 200-bar SMA while rising to $0.0584, up 0.72% intraday, during early Wednesday.
Considering the upbeat MOM signals, DOGE/USD is eyeing the resistance line of a symmetrical triangle established since February 18, currently around $0.0630. However, any further upside will need to cross the late February tops surrounding $0.0660 to recall the bulls.
Following that, $0.0730 may offer an intermediate halt during the quote’s rally towards the previous month’s peak, also the all-time high near $0.0880.
Meanwhile, a downside break of 200-bar SMA, at $0.0566 now, can drag the cryptocurrency pair back to the stated triangle’s support line, currently around $0.0500.
In a case where the DOGE/USD bears dominate past-$0.0500, $0.0448 and February’s bottom close to $0.0415 should return to the charts.
DOGE/USD four-hour chart
Trend: Further recovery expected
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.