Dogecoin Price Technical Analysis - Bears in Control
Key Highlights. Dogecoin price continued to move inside a range, but with sellers having the upper hand. A downward sloping channel is formed on the hourly chart, i.e. is acting as a catalyst in the short term. A break below the 65.0 Satoshis support area might ignite more losses moving ahead. Dogecoin buyers struggle continued, as they failed to take the price higher, which increases the risk of a break lower. 100 MA as Pivot. There is a descending channel formed on the hourly chart of Dogecoin, which is acting as a catalyst for a downside move. The number of rejections on the upside are....
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Dogecoin Price Key Highlights. Dogecoin price did indicate further downside momentum, as predicted in an earlier technical analysis write-up on the consolidation pattern repeating itself. With the downside break, more sellers could hop in the ongoing downtrend and push dogecoin price to new lows. Dogecoin price confirmed the buildup in bearish pressure with a strong downside break below the consolidation pattern on its 1-hour chart. Where To Next? Price has broken below the previous lows in October 21, hinting that bears are unstoppable at this point. Stochastic and RSI are both on the....
Dogecoin has witnessed a powerful display of strength from both sides in the past 24 hours. The cryptocurrency soared above the resistance level on the back of strong volume and went on to hit a high of 51.2 satoshis, before the bears made an emphatic comeback to bring the high-flying cryptocurrency back to the ground - each Dogecoin is currently worth 47.2 satoshis. The extreme volatility should have served as a wake-up call for the trading community. I had been reiterating that a major move is expected by the end of the week and with the recent volatile action, chances of a significant....
There is a popular saying in the stock market: “Sell in May and Go away.” It's not May yet, but I think its best to sell Dogecoin now and go away for some time. The bulls are getting mauled up by the bears amid high volatility, and this has increased the probability that the cryptocurrency may see lower levels going ahead. Dogecoin remains unchanged on a daily basis, trading at 48 satoshis. A technical look at the 240-minute Dogecoin/Bitcoin price chart confirms the bearish undertone. Dogecoin Chart Structure - In my previous analysis, I had advised that Dogecoin is a seller's play and any....
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 received a major setback over the weekend as the cryptocurrency failed twice in its attempts to scale Mt. 51 Satoshis. Any surge towards the peak was quickly pulled down by the bears beating the bulls hollow. The current value of each Dogecoin is 48 satoshis. I had mentioned in my earlier analysis that the onus lies on bulls to maintain the positive momentum but, as can be seen, the bears had the last laugh. After technically analyzing the 240-minute Dogecoin/Bitcoin price chart, it can be advised that only short positions should be considered on rallies. Chart Structure - In....