Dogecoin Price Technical Analysis For 23/12/2015 - Trendline Proves Worth
Key Highlights. Dogecoin price is forming a monster ascending channel on the hourly chart (data feed from HitBTC), which can prove vital in the short term. The price is currently trading around the channel support area, as sellers are trying their best to break it and take the price lower. A successful close below the 100 hourly simple moving average may ignite a downside move. Dogecoin price is following an ascending channel on the hourly chart, and if sellers manage to break it then a move towards 26.0 Satoshis is possible. Buy above 100 MA? Dogecoin price is showing a few bullish signs,....
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As of today, I will start doing a daily dogecoin price technical analysis, so it is rather wise to set up resistance and support levels that will guide us through our analysis during the upcoming couple of weeks. Dogecoin price increased from 59 satoshis to 61 satoshis yesterday. Although the price dropped to 56 yesterday, the bears didn't manage to keep the downtrend rolling to keep the price down. Yesterday's market behavior proves that the 52 satoshi level is supporting the price well, as shown by the long downwards shadows of the candlesticks corresponding to today's and yesterday's....
Dogecoin price ranged between 56.6 and 63.2 satoshis on Cryptsy throughout yesterday's trading sessions. Although the price is still within the range we identified during yesterday's analysis, higher highs have been recorded throughout the past 3 days. Note: We will be analyzing the 1 day (DOGE/BTC) charts from Hitbtc and Cryptsy throughout this analysis. By studying the 1 day (DOGE/BTC) Hitbtc charts from tradingview.com and plotting the OBV oscillator (look at the below chart), we can conclude the following: Although yesterday's dogecoin price low is lower than that of the previous day,....
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....
The contraction in Dogecoin has reached a whole new level. Earlier, the price was oscillating between 50-52 satoshis, before being clipped to 50.8-51.9 satoshis. However, April seems to have brought out the tightest possible range - 50.8-51.2 satoshis. Each Dogecoin is currently worth 50.9 satoshis. The 240-minute Dogecoin/BTC price chart has been technically analyzed below to determine what is causing the pressure on the cryptocurrency and the key levels to look forward to. Moving Average - The Dogecoin price is facing stiff resistance near the 20-4h simple moving average of 51.2....
Dogecoin price ranged between 50 and 52 satoshis throughout yesterday's trading sessions on hitbtc. On cryptsy, dogecoin traded between 49 and 53 satoshis yesterday. By examining the 4 hour Hitbtc (DOGE/BTC) chart from tradingview.com and plotting William's Alligator indicator accordingly (look at the below chart), we can notice the following: The support level at 52 satoshis has been resisting a drop in dogecoin price since the 2nd of March. Although the price fell down to around 39 satoshis on the 4th of March, the long downwards shadow of the candlestick (look at the candlestick circled....