Dogecoin Price Technical Analysis - Narrowing Range
Dogecoin Price Key Highlights. Dogecoin price failed once again to break in one direction, and continued to trade in a range. 0 Satoshis on the downside and 68.0 Satoshis on the upside are range support and resistance areas. There are no signs of a break as the price continues to consolidate this week. Dogecoin price failure to break is a worrying sign, and points to a nasty move in the near term. Continuous Range Trading. We are waiting for a break for the last couple of days, but both sellers and buyers failed to take the price higher or lower. It leaves the price trading in a range, and....
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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....
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 Price Key Highlights. Dogecoin price continued to trade in a range, and the trading range is narrowing as highlighted in yesterday's post. The highlighted bearish trend line formed on the hourly chart continued to move lower, increasing the chance of a break. 100 hourly simple moving average is acting as a resistance below the bearish trend line. Dogecoin price is likely heading towards a break, but we need to see how it goes moving ahead. Which way? The Dogecoin price continued to trade in a narrow range, but the fact remains is that the price might be heading towards a break.....
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 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....