Key Highlights Dogecoin price struggling to gain traction, as there was no bullish momentum to take the price higher. There is a pennant looking pattern forming on the hourly chart (data feed from CEX.IO), which may act as a catalyst for the next move. The bullish signs are more compared with the bearish signs at the moment, suggesting a break higher is most likely. Dogecoin price is finding sellers near 31.0-32.0 Satoshis, which is a major resistance zone and holds the key in the short term. Pennant Pattern and Resistance There was no real break for Dogecoin price, as it continued to consolidate in a range. There is now a pennant pattern forming on the hourly chart (data feed from CEX.IO), which may ignite a break moving ahead. The price is below the 100 hourly…
Key Highlights Dogecoin price stayed in a range, and now forming a contracting triangle on the hourly chart (data feed from HitBTC). There is a chance that the price may consolidate for some time before breaking a direction, either up or down . Looking at the 2-hours chart (data feed from IO) a major breakout resistance is forming near 32.0-33.0 Satoshis. Dogecoin price is below the 100 MA (2H), which is discouraging buyers to take it higher. A break above it may call for an upside move in the short term. What’s next? Dogecoin price continued to annoy traders as there was no real movement and it stayed in a tiny range. There is a contracting triangle pattern forming on the hourly chart (data feed from HitBTC), which is stalling a break at the moment. An important…
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 somehow buyers managed to protect the downside and pushed the price higher. We can consider the recent slide as a false spike, which means our idea of a triple bottom pattern…
Key Highlights Dogecoin price showed no signs of a move higher Intraday, and currently forming a contracting triangle pattern on the hourly chart (data feed from HitBTC). A break above 34.0-35.0 Satoshis is needed for buyers to take control and push the price higher. The chances of a move higher may increase if the price settles above 100 simple moving average on the 2-hours chart (data feed from CEX.IO). Dogecoin price H2 chart shows good signs of the 100MA providing good cover for the bulls as it has remained a reliable resistance this far. Contracting Triangle Pattern Dogecoin price has a major resistance level near 34.0-35.0 Satoshis, which remains a crucial level at the moment with new selling activity possible in the upcoming sessions. However, looking at…
Key Highlights Dogecoin price attempted to recover, but faced a barrier around an important trend line and resistance area of 33.0-34.0 Satoshis. There was a sharp downside reaction after the recent failure, as the price crated a minor new low of 22.7 Satoshis, as seen on the hourly with data feed from HitBTC. There is a chance of a triple bottom pattern forming if we look at the price feed from IO. Dogecoin price is struggling to hold an important support area, but there is a chance that the price may spike higher as there is a bullish pattern in making. Can buyers capitalize? Dogecoin price was seen recovering some ground, but yesterday’s highlighted trend line and resistance at 32.0-33.0 Satoshis stalled gains. There was a nasty downside reaction after the…