Dogecoin price analysis

Dogecoin turned up sharply from $0.13, indicating that the bulls are not waiting for a deeper correction to buy.

DOGE/USDT daily chart. Source: TradingView

The moving averages are likely to act as a substantial hurdle on the way up. If the price turns down from the moving averages, the bears will make one more attempt to sink the DOGE/USDT pair to $0.12.

On the contrary, if buyers kick the price above the moving averages, it will suggest that the pair may continue its range-bound action between $0.12 and $0.18 for a while longer. The bulls will be back in control on a break above $0.18