Dogecoin Price Technical Analysis - Approaching Breakout
Key Highlights. Dogecoin price continued to trade in a range, and looks set for a near-term breakout. 66.0 Satoshis is turning out be a major support area for Dogecoin. A critical breakout pattern is formed on the hourly chart, which might ignite swing moves in the short term. Dogecoin price settled below an important support of 70 Satoshis, signaling that buyers failed to capitalize and might struggle moving ahead. Triangle Breakout Pattern. There was a consolidation phase noted for the Dogecoin price within a contracting range, which resulted in a breakout pattern formation. There is a....
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Dogecoin Price Key Highlights. Dogecoin price has been trading below a long-term descending trend line for quite some time, but reversal signals are showing up. Price made a sharp upside breakout, hinting that the downtrend might already be over and that it's time for buyers to take charge. Dogecoin price could be in for more gains, as it made a convincing breakout from the descending trend line connecting its latest highs. Waiting for Technical Confirmation. Technical indicators have yet to confirm the dogecoin price rally since the 100 SMA remains below the 200 SMA for now. This suggests....
In my yesterday's analysis, I mentioned that Dogecoin was going nowhere and had restricted itself to an extremely tight range. Although nothing significant has changed in price terms as the value of each Dogecoin is still 50.9 satoshis, a narrowing price range indicates that a breakout may be seen in the next 48-72 hours. I have discussed below the various inferences drawn after implementing a couple of technical indicators on the 240-minute Dogecoin/BTC price chart. Chart Structure - As mentioned above, the price action has taken the form of lower highs, higher lows thereby forming a....
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....
Bitcoin price is still stuck in consolidation but might be ready to make a strong breakout in either direction sooner or later. Bitcoin Price Key Highlights. Bitcoin price formed higher lows and lower highs, creating a symmetrical triangle pattern on its 4-hour time frame. Price is still stuck inside that triangle pattern for now but a breakout might be due since it is approaching its peak. A breakout in either direction could set the longer-term trend for bitcoin. Technical Indicators Signals. The 100 SMA is currently below the 200 SMA, signaling that the path of least resistance is to....
Key Highlights. Dogecoin price is still stuck in consolidation and is hovering near range support against litecoin. Momentum for a downside range break seems to be building up, as dogecoin price has made lower highs and is pushing closer to the bottom of the range. Dogecoin price has been moving sideways for quite some time around a longer-term area of interest and is revving up for a strong downside breakout. Bears gathering strength. The consolidation is persisting for now, as traders are waiting for more signs of bearish momentum. Short positions are approaching extremes, opening the....