Can Dogecoin Slide Further? Key Technical Levels To Keep An Eye On
Dogecoin remains bearish at the time of writing as it just broke below its immediate price support line. Broader market weakness can be attributed to the price fall. Major market movers have displayed choppy price action. Over the last 24 hours, Dogecoin lost 2% and in the last week, it declined by 8%. The global cryptocurrency market cap was at $1.93 Trillion as there has been a decline of 0.2% in the last 24 hours. The meme coin has been facing tough resistance at its immediate price ceiling. Buyers have also decided to lay low as a reason the coin continues to fall prey to selling....
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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....
Dogecoin hasn't been able to recover from the negative price shock it received yesterday - the cryptocurrency came down with a thud from 50 satoshis to 46.3 satoshis - and is currently trading near 1-week lows. I had earlier mentioned that maybe it's best to sell now and go away until depressed levels of Dogecoin are seen. I still maintain that the crypto coin might depreciate in value going forward. Currently, Dogecoin is trading down 1.875% or 0.9 satoshis at 47.1 satoshis from yesterday's observation. An analysis of the 240-minute Dogecoin/Bitcoin price chart above reveals information....
Dogecoin price continued to consolidate around 48 to 49 satoshis on Hitbtc in the past couple of days, as the lack of a fresh market catalyst kept ranges intact. Trading activity has been subdued in cryptocurrency pairs towards the end of the week, with market participants booking profits off current dogecoin price levels. Looking at the 1-hour chart of DOGE/BTC from tradingview.com shows that technical indicators are hinting at further consolidation for the meantime:100 and 20 exponential moving averages are treading sideways and moving closer, confirming range-bound movement between....
The contraction in Dogecoin has reached a whole new level. Earlier, the price was oscillating between 50-52 satoshis, before being clipped to 50.8-51.9 satoshis. However, April seems to have brought out the tightest possible range - 50.8-51.2 satoshis. Each Dogecoin is currently worth 50.9 satoshis. The 240-minute Dogecoin/BTC price chart has been technically analyzed below to determine what is causing the pressure on the cryptocurrency and the key levels to look forward to. Moving Average - The Dogecoin price is facing stiff resistance near the 20-4h simple moving average of 51.2....
There is a popular saying in the stock market: “Sell in May and Go away.” It's not May yet, but I think its best to sell Dogecoin now and go away for some time. The bulls are getting mauled up by the bears amid high volatility, and this has increased the probability that the cryptocurrency may see lower levels going ahead. Dogecoin remains unchanged on a daily basis, trading at 48 satoshis. A technical look at the 240-minute Dogecoin/Bitcoin price chart confirms the bearish undertone. Dogecoin Chart Structure - In my previous analysis, I had advised that Dogecoin is a seller's play and any....