DOGE Price Prediction: Dogecoin might be in for lower lows

DOGE Price Prediction: Dogecoin might be in for lower lows

Since the 7th of February, the DOGE price movement has been recording lower highs for the crypto asset due to the new traders’ culture of aggressively selling whenever its price appreciates.

The problem with such lower highs is that they destabilize stable support levels, at DOGE’s instance, the $0.044 mark

When these lower highs and the horizontal support level are connected, a downward triangular pattern is evident.

This then means DOGE’s price is still up for more downward spiraling

According to DOGE’s technical indicators, the crypto asset is more liable to experience a 50 percent downward price trend, and the DOGE price prediction states a distance between the $0.049 swing high and the $0.0485 flat demand level, added to the $0.0431 breakout level.

This trend predicts Dogecoin exchanging at about $0.0215

Adding traction to this bearish prediction is Dogecoin’s price movement under the 50, 100, and 200 4-hour MA or moving averages, which discourage any upsurge price movement.

Therefore, if the selling pressure is not checked, the 4-hour candlestick might move close below the $0.043 flat support level to confirm a downward price trend

If things move in this direction, DOGE’s price might move towards settling at the $0.021 level

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