Dogecoin Price Technical Analysis for 20/03/2015 - Tighter Consolidation
Even with the increased upside momentum seen on the shorter-term time frames of dogecoin price charts, the cryptocurrency is still stuck in consolidation to the bitcoin on the daily chart. A descending triangle formation can be seen, with price hovering at the bottom of the chart pattern. The short-term moving average (red) is treading below the long-term moving average (green), indicating that downside momentum is present. Moving averages are widening, which means that selling pressure is strengthening. Stochastic on the daily time frame of DOGE/BTC from Hitbtc is moving down from the....
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Dogecoin Price Key Highlights. Dogecoin price is once again settling around the bottom half of its range visible on the 1-hour time frame, creating a mini-range just above support. This pattern has been seen in the past, with price favoring a downside break and further losses. Dogecoin price is currently stuck in a tighter short-term range but could be ready for a breach of support, as this has been the case in the previous consolidation. 100 SMA Resistance. Dogecoin price has made a quick pullback to the 100 SMA, which has served as a dynamic resistance area during the downtrend. This....
Bitcoin price is stuck in a tighter consolidation pattern, which could set the tone for an even more explosive breakout. Bitcoin Price Technical Analysis. Bitcoin price is starting to form a new ascending channel after its previous breakdown. The consolidation is noticeably tighter these days, which suggests that price could be gearing up for a strong breakout. The US elections would likely have a strong impact on financial market sentiment and dollar price action. Technical Indicators Signals. The 100 SMA just crossed below the longer-term 200 SMA so the path of least resistance is now to....
Dogecoin price action on Hitbtc exhibited a tad more volatility than usual, as price dipped below its previous consolidation and dipped close to 45 satoshis before bouncing right back up. The cryptocurrency is back inside its tight range against bitcoin once more and could be headed sideways again. Stochastic has moved higher following the quick bounce and is almost indicating overbought conditions. This could draw a fresh batch of sellers in and push dogecoin price action much lower. The longer-term exponential moving average (green line) is still holding as resistance and is moving....
The contraction in Dogecoin channel has limited the price movement from 46.6 satoshis to 48.3 satoshis - much narrower than the previous range of 46.6-50 satoshis. I had discussed the possibility of the consolidation extending earlier because neither of the parties is willing to exert force. The current value of each Dogecoin is 47.9 satoshis. Analysis of the 240-minute Dogecoin/Bitcoin price chart supports my earlier view that the consolidation may prolong. Bollinger Bands - The latest price contraction has witnessed Bollinger Bands playing a crucial technical role. As is evident from the....
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....