Dogecoin Price Technical Analysis for 8/4/2015 - Bloodbath Expected
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....
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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....
Dogecoin has leapt a massive 8% today disrespecting the resistance level of 50 to be trading at 50.8 satoshis. I have been maintaining in earlier analyses that a major move was expected in Dogecoin as the week comes to a close. The bears have given away the slight advantage that they had over the bulls and the onus is now completely on bulls to tighten their grip. Taking a technical look at the 240-minute Dogecoin/BTC price chart above reveals that the upmove has been backed by strength and that maintaining this bullish momentum will be the key to see a further rise in the market cap of....
Having faced volatile price action in the previous week, Dogecoin seems to be entering this week on a calm note. The cryptocurrency is trading in a thin range of 46.6-50 satoshis, with each Dogecoin currently worth 48.2 satoshis. An analysis of the 240-minute Dogecoin/Bitcoin price chart reveals that the cryptocurrency may extend its stay in the trading range and no major price moves are expected in the next 48 hours. Chart Structure - As is evident from the chart above, Dogecoin is oscillating in a wide range of 43-50 satoshis. A breakout from this range will set the stage for a much....
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 price dropped further yesterday to record a low of 52 satoshis on Hitbtc today as we expected during yesterday's analysis. In my opinion, the 52 satoshis level will support the price and prevent dogecoin price from declining to lower levels. By studying the 4 hour Hitbtc (DOGE/BTC) chart from tradingview.com and plotting the William's Alligator indicator (look at the below chart), we can notice the following: The price now is continuing to record lower lows and we can spot a downwards sloping support level as shown by the orange trend line on the below chart. Dogecoin price is now....