Dogecoin Price Technical Analysis for 12/03/15: Small Bullish Correction
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....
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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....
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....
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....
Dogecoin Price Key Highlights. Dogecoin price has been trading below a long-term descending trend line for quite some time, but reversal signals are showing up. Price made a sharp upside breakout, hinting that the downtrend might already be over and that it's time for buyers to take charge. Dogecoin price could be in for more gains, as it made a convincing breakout from the descending trend line connecting its latest highs. Waiting for Technical Confirmation. Technical indicators have yet to confirm the dogecoin price rally since the 100 SMA remains below the 200 SMA for now. This suggests....