Dogecoin Price Technical Analysis for 24/03/2015 - Edging Lower
Dogecoin price still continues to consolidate on its shorter-term time frames but zooming out to the longer-term chart reveals a downside bias. Looking at the daily chart of DOGE/BTC from Hitbtc shows that technical indicators also support a move lower for the dogecoin cryptocurrency against bitcoin: Price has been forming lower highs, reflecting a gradual buildup in selling pressure. Dogecoin price has also formed lower lows, which means that sellers are still trying to push the pair lower. Stochastic is moving between 60 to 40, just coming off the overbought area and indicating that....
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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....
Dogecoin seems to have formed a trading range which has the put the risk/reward ratio highly in favor of traders. As expected, the price has not violated the support level of 43 satoshis and has rebounded strongly, approving it as a near-term floor. In another shot at taking out the resistance of 50 satoshis, Dogecoin has failed miserably. In my previous analysis, it was discussed that volatility may continue to play a decisive role, and the price is indeed oscillating wildly in the range. As of this moment, each Dogecoin is worth 47.9 satoshis. After analyzing the 240-minute....
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....
Bitcoin price has, during the past three days, formed a series of lower highs and higher lows in a pattern that resembles the consolidation prior to a decline. There are technical indications that a pull lower is on the cards, but it may not get far. This analysis is provided by xbt.social with a 3-hour delay. Read the full analysis here. Not a member? Join now and receive a $29 discount using the code CCN29. Bitcoin Price Analysis. Time of analysis: 15h00 UTC. Bitfinex 1-Hour Chart. From the analysis pages of xbt.social, earlier today: The Bitfinex 1-hour chart shows the decline since the....
Dogecoin price on the 4-hour chart from Hitbtc is giving mixed signals, with the cryptocurrency pair enjoying increased volatility recently. Price has tossed around inside its short-term range but made a few spikes higher and lower, as buyers and sellers still can't pick a clear direction for price action. Technical indicators on the same time frame are giving mixed signals, with some suggesting a potential reversal from the longer-term drop and others suggesting a potential continuation of consolidation. The short-term EMA is still treading below the longer-term moving average, which....