Dogecoin Price Technical Analysis - Contracting Range
Key Highlights. Dogecoin buyers failed on many occasions to take prices above 60.0 Satoshis. Range is contracting on the hourly timeframe, which suggests that a break is on the cards in the near term. Our highlighted double top pattern is still valid, and as long as the price of Dogecoin is below 60.0 Satoshis, there is a risk of a major decline moving ahead. Contracting Range. Dogecoin price action is getting complex, and it looks like 60.0 Satoshis is turning out to be a major barrier for buyers. We highlighted a double top pattern in one of the previous analyses, which is still intact.....
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Key Highlights. The Dogecoin price-after failing to break the 35-36 satoshi resistance area-started to consolidate in a range. There is a contracting triangle pattern forming on the hourly chart (price feed from HitBTC) that may act as a catalyst for the next move. As mentioned earlier, the price remains at a risk of more losses as long as it is below the stated resistance area. Dogecoin price started to consolidate intraday, and is currently looking for a reason to move higher. Let's analyze whether buyers can step in or not. Contracting Triangle Formation. We recently highlighted in a....
Dogecoin Price Key Highlights. Dogecoin price continued to trade in a range, but it looks the range is narrowing. The price is heading towards a break, as there is a bearish trend line formed on the hourly chart on the upside and support near 60.0. Range is now 60-64 Satoshis, which is contracting as the trend line is moving lower. Dogecoin price might be finally heading towards a break as the trading range started to shrink. Trend Line Resistance. The Dogecoin price consolidation phase extended for one more day, as the price continued to trade in a range. However, we can safely say that....
An absolute calm has engulfed Dogecoin as the price remains trapped in a tight range of 50.8-51.9 satoshis. The market is severely testing the patience of the short-term traders, who now fear that a surprise breakout could trigger huge losses. The market may be waiting for a trigger to break free but until that happens, it would only be wise to trade the range with minimum quantities. Dogecoin price chart, Dogecoin analysis. Nothing much has changed in the past 24 hours in terms of price (the current value of each Dogecoin is 51.1 satoshis) but the chart structure has definitely....
In my yesterday's analysis, I mentioned that Dogecoin was going nowhere and had restricted itself to an extremely tight range. Although nothing significant has changed in price terms as the value of each Dogecoin is still 50.9 satoshis, a narrowing price range indicates that a breakout may be seen in the next 48-72 hours. I have discussed below the various inferences drawn after implementing a couple of technical indicators on the 240-minute Dogecoin/BTC price chart. Chart Structure - As mentioned above, the price action has taken the form of lower highs, higher lows thereby forming a....
Key Highlights. Dogecoin's price stayed in a range, and is now forming a contracting triangle on the hourly chart (data feed from HitBTC). There is a chance that the price may consolidate for some time before breaking in a direction, either up or down. Looking at the 2-hour chart (data feed from IO), a major breakout resistance is forming near 32-33 satoshis. Dogecoin's price is below the 100 MA (2H), which is discouraging buyers from taking it higher. A break above it may call for an upside move in the short term. What's next? Dogecoin's price continued to annoy traders, as there was no....