Dogecoin Price Technical Analysis - Dangerously Near Range Support
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....
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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....
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 is once again settling around the bottom half of its range visible on the 1-hour time frame, creating a mini-range just above support. This pattern has been seen in the past, with price favoring a downside break and further losses. Dogecoin price is currently stuck in a tighter short-term range but could be ready for a breach of support, as this has been the case in the previous consolidation. 100 SMA Resistance. Dogecoin price has made a quick pullback to the 100 SMA, which has served as a dynamic resistance area during the downtrend. This....
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....
Dogecoin Price Key Highlights. Dogecoin price is moving in a much larger range compared to its previous tight short-term consolidation. Price seems to have bounced off the bottom of the range around 43 to 44 Satoshis and may be headed back to the top. Dogecoin price stepped up its volatility in the recent trading range, breaking below its short-term consolidation but still unable to make further headway south. Headed for resistance? Technical indicators on the 1-hour chart of dogecoin price suggest that it is headed back towards resistance at 48 Satoshis. Stochastic is pointing north,....