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 convincing due to no follow through. Since buyers failed to take the price higher, there was a nasty downside reaction. The price moved lower and fell below the last low of 54.5 Satoshis to trade near…
Key Highlights Dogecoin price cleared a contracting triangle as highlighted recently, and traded lower. The price remains under the bearish pressure, which means more losses are possible moving ahead. A new weekly low was formed below 55.0 Satoshis, which can act as a support moving ahead. Dogecoin price suffered more losses and created a new low at 54.5 Satoshis, as buyers failed to hold the downside. More Losses The Dogecoin price weakened Intraday, as sellers managed to clear an important support area in the form of a contracting triangle. We anticipated a break in yesterday’s post, but the direction was not clear. Now, we have a break, and the price also settled below the last low of 55.0 Satoshis more losses are possible. There are a few important points to…