Dogecoin Price Technical Analysis - False Spike and Reversal?
Key Highlights. Dogecoin prices spiked below an important support area of 28 satoshis, but later managed to move back higher. The price is caught in a range of 28-33 satoshis, and waiting for a catalyst for the next move. As pointed out in yesterday's post, there is a possibility of a triple bottom pattern looking at the price feed from IO. Dogecoin's price is stuck in a range, and that's why conservative traders can wait for a break-either upwards or downwards-before placing an order. 32-33 as Resistance Area. Dogecoin prices fell below a major support area of 28 satoshis intraday, but....
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Key Highlights. Dogecoin price spiked down and tested the swing low of 26.5 Satoshis where buyers defended the downside. This can be seen as a false break or may be a quick move down with the data feed from HitBTC. The price is still above a major support trend line on the 30-min chart, suggesting that short-term trend is still bullish. Dogecoin price after the recent false spike may trade back higher. If there is a close above 32.0 Satoshis, then buyers may take control. Buy close to the trend line and support area? Dogecoin price fell sharply Intraday, and broke a major support trend....
Key Highlights. The Dogecoin price is finding it hard to get a reason for a move higher, as it remained under the bearish pressure. There is a bearish trend line formed on the 30-mins chart (price feed from CEX. IO), suggesting a downside move. There is a possible false spike higher noted on the hourly chart of the price feed provided by HitBTC. Dogecoin price remains at a risk of further losses, and slowly all possible bullish signs start to diminish with sellers stepping in. Trend Line as Resistance. There is a bearish trend line forming on the 30-mins chart of the Dogecoin price (data....
Key Highlights. Dogecoin price broke an important triangle as forecasted in Yesterday's analysis. Downside momentum was limited, which creates a risk of a false break. 0 Satoshis is an immediate support, which must hold if the recent break is a false one. Dogecoin sellers cleared a critical support, but failed to gain pace, which is a worrying sign in the near term. Downside Continuation Likely. We highlighted atriangle pattern on the hourly chart of Dogecoin Yesterday, which was breached later during the day as forecasted. However, the break was not convincing, as there was no follow....
Dogecoin has been gradually trading lower since the end of June but it made a sudden spike higher recently. Could this be a sign of a trend reversal or is the longer-term selloff set to carry on? The 4-hour chart of DOGEBTC from Trading View shows that the pair made a brief pop higher from its ongoing trend lower then proceeded to consolidate. Stochastic is moving out of the oversold area, suggesting a potential return in buying momentum and an uptrend for dogecoin, while RSI is on middle ground and barely offering any clear clues at the moment. Analyzing this in tandem with BTCUSD price....
Dogecoin Price Key Highlights. Dogecoin price dived lower, and the recent trend line break turned out to be a false one. The price moved below the last low to create a new low around 52.6 Satoshis. 100 hourly simple moving average is acting as a monster resistance, as buyers failed to break it. Dogecoin price moved lower below the last low to open the doors for more losses in the near term may be towards 50.0 Satoshis. Move towards 50.0 Satoshis? We highlighted recently that there might be a false break on the hourly chart of Dogecoin, as there was a trend line break but it was not....