Dogecoin Yearly Consolidation About To Break, Here’s What It Means
Dogecoin has spent the past several weeks struggling to reclaim momentum after falling below $0.16. The pullback is due to a larger selling pressure built across the broader crypto market, leaving Dogecoin in a continued downtrend. Despite this weakness on lower timeframes, a much larger pattern is forming on the yearly chart, one that suggests […]
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Dogecoin Price Key Highlights. Dogecoin price did indicate further downside momentum, as predicted in an earlier technical analysis write-up on the consolidation pattern repeating itself. With the downside break, more sellers could hop in the ongoing downtrend and push dogecoin price to new lows. Dogecoin price confirmed the buildup in bearish pressure with a strong downside break below the consolidation pattern on its 1-hour chart. Where To Next? Price has broken below the previous lows in October 21, hinting that bears are unstoppable at this point. Stochastic and RSI are both on the....
Dogecoin Price Key highlights. Dogecoin price is still stalling around the near-term support level, which has held since yesterday. Price has pulled back to the dynamic resistance at the 100 SMA and made another attempt to break below the support at 47.5 Satoshis. Dogecoin price is currently hovering at the consolidation support level and latest lows, with a potential downside break likely to confirm a pickup in selling pressure. Further consolidation possible. The lack of any market catalysts or liquidity could open the possibility of further sideways movement for dogecoin price, as the....
Dogecoin Price Key highlights. Dogecoin price tested the dynamic resistance at the 100 SMA, which was enough to keep further gains in check. The short-term moving average is below the longer-term 200 SMA, indicating that the path of least resistance is to the downside and that further losses are likely. Dogecoin price is resuming its downside momentum, which might gain traction on a break of the previous lows at 47.7 Satoshis. Short-Term Consolidation Break. For now, dogecoin price is finding support around 47.7 Satoshis or the previous lows. A break below this short-term consolidation....
Here's a look at what we are focusing on in the bitcoin price this evening. Well, this is getting a bit frustrating. Price seems to want to weigh to the downside, even though we want it to hit 800 so much. Shows how much influence we have. The chart below shows action during the European session today. It’s basically gone as follow: break, consolidation, break, consolidation. We’re currently trading just ahead of the 740 mark, and it’s looking like sentiment is very much to the downside right now. Not too much of an issue for our intraday operations, but a little frustrating on the longer....
Even with the increased upside momentum seen on the shorter-term time frames of dogecoin price charts, the cryptocurrency is still stuck in consolidation to the bitcoin on the daily chart. A descending triangle formation can be seen, with price hovering at the bottom of the chart pattern. The short-term moving average (red) is treading below the long-term moving average (green), indicating that downside momentum is present. Moving averages are widening, which means that selling pressure is strengthening. Stochastic on the daily time frame of DOGE/BTC from Hitbtc is moving down from the....