Dogecoin Price Technical Analysis for 26/03/2015 - Descending Channel
On its daily chart from Hitbtc, it can be seen that dogecoin price is gradually treading lower, creating a descending channel on the longer-term time frames. At the moment, the cryptocurrency is testing the channel bottom against bitcoin and may be due for a quick bounce higher if support holds. Dogecoin price has made long spikes around the channel support, suggesting that buyers are keen on making the bottom of the range hold. The longer-term moving average is treading below the short-term moving average, which means that the downtrend is likely to stay intact. Stochastic is moving....
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An analyst has pointed out how Dogecoin could see a rally to $0.50, if the upper boundary of this technical analysis pattern breaks. Dogecoin Is Currently Trading Inside A Parallel Channel In a new post on X, analyst Ali Martinez has shared a technical analysis (TA) pattern forming in the 1-day price of Dogecoin. The pattern in question is a Parallel Channel, which forms when the price of an asset observes movement restricted between two parallel trendlines. Related Reading: Toncoin, Quant Seeing Whale Activity Explosion, Big Move Ahead? The upper line of the channel is likely to provide....
Bitcoin price is hovering at the resistance of the short-term descending channel and could be in for a continuation or reversal. Bitcoin Price Key Highlights. Bitcoin price seems to be establishing a downtrend now that it’s forming a descending channel on its 1-hour time frame. Price is now testing the channel resistance, still deciding whether to make a bounce or a break. Technical indicators seem to be indicating that the selloff could resume but there are also potential arguments for a reversal. Technical Indicators Signals. The 100 SMA is below the longer-term 200 SMA so the path of....
Bitcoin price is slowly making its way down, moving inside a descending channel on its short-term time frames. Bitcoin Price Key Highlights. Bitcoin price seems to have broken below the descending triangle pattern illustrated in an earlier article. Price is establishing short-term downside momentum from here, creating a descending channel visible on the 1-hour chart. Price just bounced off the channel support and could be due for a test of resistance at $930. Technical Indicators Signals. The 100 SMA is above the longer-term 200 SMA so the path of least resistance is still to the upside.....
Potcoin Price Key Highlights. Potcoin price has been steadily trending lower, moving inside a descending channel pattern on the 1-hour time frame. Price is testing the latest lows and might be due for a move down to the channel support at 0.00000220BTC or lower. Potcoin price could carry on with its ongoing selloff, as technical indicators also confirm that further losses are likely. Bounce Off Channel Support? Potcoin price might still be able to take a break from its dive if the bottom of the descending channel holds as short-term support. In that case, price could head back up to the....
An analyst has pointed out how Dogecoin could see a strong surge if the support level of this technical analysis (TA) pattern holds. Dogecoin Is Retesting The Support Line Of An Ascending Channel In a new post on X, analyst Ali Martinez has shared a pattern forming in Dogecoin’s 12-hour price chart. The pattern in question is an Ascending Channel from TA, a type of Parallel Channel. Related Reading: Newbie Bitcoin Whales Now Control 44% Of Realized Cap, Highest Ever Parallel Channels form whenever an asset’s price observes consolidation between two parallel trendlines. The....