Dogecoin Price Technical Analysis for 19/11/2015 - What's Holding Buyers Back?
Key Highlights. There are a couple of monster bearish trend lines on the daily timeframe chart of Dogecoin price, which are preventing buyers to take the price higher (price feed from HitBTC). There were many attempts made to clear the highlighted trend line and resistance area, but sellers managed to defend the upside successfully. The breakout pattern on the 30-mins chart (price feed from CEX. IO) is still due that can cause some action moving ahead. Dogecoin price is attempting to trade higher and break all shackles, but the resistance around 40-45.0 Satoshis is preventing gains.....
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Dogecoin price action on Hitbtc exhibited a tad more volatility than usual, as price dipped below its previous consolidation and dipped close to 45 satoshis before bouncing right back up. The cryptocurrency is back inside its tight range against bitcoin once more and could be headed sideways again. Stochastic has moved higher following the quick bounce and is almost indicating overbought conditions. This could draw a fresh batch of sellers in and push dogecoin price action much lower. The longer-term exponential moving average (green line) is still holding as resistance and is moving....
Dogecoin is still trapped in a very tight range; continuously vacillating between 50.2 Satoshis and 52 satoshis as the buyers and the sellers test each others' patience. Such prolonged constriction also suggests that the big players may be staying on the sidelines and waiting for a trigger to get back into action. Each Dogecoin is currently worth 50.8 Satoshis. I have presented above the 240-minute Dogecoin/BTC price chart and overlaid a couple of technical indicators to estimate the future price movements. Here are some interesting revelations from that: Bollinger Bands Support - As can....
Dogecoin Price Key Highlights. Dogecoin price traded higher intraday, but failed to maintain gains and struggled later. 100 hourly simple moving average is acting as a hurdle for buyers in the near term. Price is back below an important support of 72.0 Satoshis, which is a worrying sign for buyers. Dogecoin price declined intraday, and it looks like sellers are positioned to take it further lower moving ahead. Buyers Nervous? Dogecoin price managed to climb a bit yesterday, and breached a major channel resistance area as highlighted in one of the recent analyses. However, there was no real....
Key Highlights. Dogecoin continued to struggle around the previous swing high of 51.7. It is currently moving lower as forecasted in one of the previous analyses and looks set for a break in the near term. A pullback in Dogecoin is hard to consider as a reversal sign, as most technical indicators are still favoring buyers and more upsides. There is a crucial breakout pattern formed on the hourly chart of Dogecoin, as there is a contracting triangle shaped, and waiting for a catalyst for the next move. As of writing, prices are around the triangle resistance trend line and buyers are trying....
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....