Two reasons why Dogecoin is being held back | Doge Technical Analysis, Price Predictions


 

Technical analysis, price predictions and news on cryptocurrency Dogecoin for 05/18/2021.  Doge is being held back for two reasons.  One being the overall selloff in crypto markets and Bitcoin after Elon Musk expressed environmental concerns regarding Bitcoin use.  The second being a technical indicator of the steep downtrend channel that Doge has been trading within.  There is resistance coming at around 51 cents.  A break above that could possibly indicate the beginning of a trend reversal with the next resistance level coming at around 62 cents.  In an extremely bullish scenario, all time highs could be retested if that 62 cent level is breached.  To the downside, we have support at around 43 cents.  The next support level below that comes in at around 38 cents.


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