Key Highlights Dogecoin price continues to find bids around an important support area of 52.6 A crucial contracting triangle pattern is formed on the hourly chart, which might ignite a break moving ahead. Buyers are attempting for a break, and if they succeed we might witness gains in the near term. Dogecoin price is eyeing a break moving ahead with resistance around 54.0-5 Satoshis and support near 53.0 Satoshis. Triangle Break The Dogecoin price recently traded close to the 52.5 Satoshis support area where buyers appeared to defend more downsides. Sellers tried many times to clear the mentioned support area, but they failed to overcome buying pressure. The price is currently correcting higher and trading near 53.0 Satoshis. There is a contracting triangle…
Key Highlights Dogecoin price is struggling to hold the ground, as sellers look in control. There is an ascending channel pattern forming on the hourly chart, as highlighted in this past week’s analysis. The price is trading near the 100 hourly simple moving average, which might produce a move in the near term. Dogecoin price is likely to continue in a range and might trade inside an ascending channel formed on the hourly chart. Range Trading Moves We noticed a down-move in the Dogecoin price, as it moved below the last low of 52.0 Satoshis, and created a new low. There is now an ascending channel pattern forming on the hourly chart, which we highlighted in this past week’s analysis too. The price is currently finding buyers around the channel support trend line,…
Key Highlights Dogecoin price spiked higher as anticipated in yesterday’s post and created a new high above 57.0 Satoshis. Sellers failed to capitalize on the double top pattern, and as a result there was an upside reaction. Looking at the broad view, there is likely an ascending channel pattern formed on the hourly chart. Dogecoin price managed to gain bids, and traded above a major resistance above 57.0 Satoshis. Ascending Channel Formation We followed a double top pattern on the hourly chart, which should have been resulted in a downside move. However, we noticed yesterday, that sellers failed to gain momentum, which created a risk of a break higher. The price did move higher Intraday, and even managed to spike the previous swing area of 57.0 Satoshis. A new…
Key Highlights Dogecoin price made an attempt to trade higher and cleared a bearish trend line highlighted in yesterday’s post. The price found resistance around 56.5 Satoshis, which represents a major hurdle for buyers. The price is currently trading around the 100 hourly simple moving average and setting up for the next move. Dogecoin price failed twice to break an important level of 56.5 Satoshis, which creates a risk of o double top pattern. Move Down? We highlighted a bearish trend line in yesterday’s technical analysis, which acted as a resistance for some time and later paved the way for more gains. However, the upside was limited, as the price found resistance around an important level at 56.5 Satoshis. The mentioned level represents a previous swing area…
Key Highlights Dogecoin price moved lower and traded close to 50.0 Satoshis to fulfil our target of the last week. The price found support around the mentioned area and currently making an attempt to correct higher. 100 hourly simple moving average is still a pivot area for the price, as buyers struggled to break it. Dogecoin price traded lower and formed a new low below 52.0 Satoshis before starting to recover from losses. What’s next? We mentioned in one of the last week’s analyses that there is a chance that the Dogecoin price might trade towards 50.0 Satoshis. It did happen, as the price moved below the last low of 52.6 Satoshis and traded close to 50.0 Satoshis. It has started to recover from losses and currently making an attempt to trade higher. There is a…