Dogecoin Price Technical Analysis for 16/03/2015: Potential Correction
After consolidating towards the end of last week, dogecoin price is showing signs of a correction on its short-term time frame. The cryptocurrency price is edging slightly higher at the start of the trading week and may be due for a pullback to the moving averages on the 1-hour chart from tradingview.com. DOGE/BTC is nearing the 100 exponential moving average, which has held as a dynamic resistance level in previous pullbacks. A shallow bearish divergence can be seen, as price made lower highs in March 11 and March 16 while stochastic drew higher highs. Stochastic is crossing down from the....
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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....
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....
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....
Dogecoin is holding firm above major support at $0.22 despite repeated threats to break below in the just concluded week. Amidst these fluctuations, an interesting technical indicator suggests that Dogecoin’s long-term rally is still intact. This technical indicator’s outlook was pointed out by crypto analyst Trader Tardigrade, who used the Gaussian Channel, a popular momentum tool, as evidence that Dogecoin’s bullish momentum is still in play despite the current selling pressures. Related Reading: Dogecoin Whales Go On A 110-Million Memecoin Buying Spree—What’s Next For DOGE?....
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....