Dogecoin Price Technical Analysis for 5/3/15: Little Bullish Correction Appears as Bitcoin Drops
The Fed's auction of 50,000 Bitcoins is hours away from taking place and the market has already started reacting to it. After enjoying a steady bull run towards 294, the Bitcoin price stumbled a little in last few hours - a part of correction, perhaps. The Dogecoin price, reacting almost inversely to Bitcoin's price movements, therefore surged notably within the same hours - around 3% against the BTC and 1.5% against the USD. The price previously was on a constant downtrend. By observing the 1H DOGE/BTC Cryptsy chart above, we can notice the following: The Dogecoin price is currently....
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The Dogecoin price surged near 1.5% against the BTC during the March 11th trading session, thereby establish smaller bullish corrections in an already bearishly-biased market. The market however continues to face strong upside risks that, if tested, could really pulldown price back to invalidate the currency near-term bull sentiment. Following is the elaboration of this theory. As you can notice the DOGE/BTC 4H Chart above, sponsored by Trading View, the Dogecoin price has clearly formed new higher highs in order to test the 61.8% retracement - aligning with 54. Just after that, you could....
Dogecoin Price Key Highlights. Dogecoin price has been stuck in consolidation for quite some time, as support at the recent lows has been stubbornly holding. Selling pressure may have been exhausted around these levels, with bulls still trying to keep dogecoin price afloat. Dogecoin price might be due for a bounce, with the current floor refusing to give way and a bullish divergence materializing. Higher lows and lower lows. Stochastic has formed higher lows while price has formed lower lows from earlier in the month, creating a bullish divergence signal. This could be a sign that a....
Bitcoin price is finding support at the 38.2% Fibonacci retracement level but a larger pullback might be due. Bitcoin Price Key Highlights. Bitcoin price is still selling off, moving towards the 38.2% Fib or the $650 area as predicted in the previous article. Price appears to have found a bit of support at this area, forming a long spike after the test and still deciding whether to resume the climb or to make a larger pullback. Technical indicators appear to be suggesting that the correction is still far from over. Technical Indicators Signals. The 100 SMA is above the 200 SMA so the....
Dogecoin has undergone a massive correction of roughly 10% in the past 24 hours, with the price nose-diving from 49.8 satoshis to 45.1 satoshis. As a result of this fall, Dogecoin has neared the floor of 43 satoshis, which if cracked, could lead to a severe collapse in the price. But, will it? Let us find out with the help of technical analysis below. Technical analysis implemented on the 240-minute Dogecoin/Bitcoin price chart reveals that bears are pouncing on every opportunity to jettison Dogecoin en masse. The support of 43 satoshis may well give way to a lower ground, if bulls....
Key Highlights. Yesterday's idea that there can be more gains in Dogecoin, and buying dips is a good option worked as prices dipped and surged higher one more time. There is a major resistance building up around 77.5 Satoshis where buyers might struggle. Dogecoin continued to gain traction as buyers remain in control, but it would be really interesting to see how long the bullish trend can continue. 77.5 Satoshis as a Barrier. One more hurdle was cleared by Dogecoin buyers recently, as 71.7 Satoshis (Yesterday's high) was breached to set a new weekly high. There is a lot of bullish....