Dogecoin Price Technical Analysis for 3/4/2015 - Still Shackled
Dogecoin price remains grounded, oscillating between a thin range of 50.8-51.2 satoshis. The 20-4h simple moving average continues to be an unsurpassable hurdle for the Dogecoin as bulls choose not to make any moves in the absence of positive triggers. The current Dogecoin price is 51.1 satoshis, slightly below the upper range of 51.2 satoshis. As can be seen from the 240-minute Dogecoin/BTC price chart, the cryptocurrency is barely moving anywhere. Technical analysis also points to a continuation of the sticky consolidation in the near future. Bollinger Bands - The Bollinger Bands have....
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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....
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 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....
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....