Dogecoin Price Won’t Go Quietly – Risk of Bounce Grows

Dogecoin Price Won’t Go Quietly – Risk of Bounce Grows

Dogecoin Price Key Highlights Dogecoin price continued to trade inside a contracting triangle pattern formed on the hourly chart, as highlighted in yesterday’s analysis. The last low of 52.5-6 acted as a hurdle for sellers one more time and prevented losses. Dogecoin price might spike higher in the near term, as sellers failed many times to take it below 52.5 Satoshis. Bounce Ahead? The Dogecoin price traded a touch lower once more, but found support near the last swing low of 52.5 Satoshis that acted as a barrier for sellers. The contracting triangle pattern formed on the hourly chart continued to act as a catalyst as the price moved inside it and failed to break it. However, it looks like buyers are struggling to hold the ground as sellers made a couple of...

Dogecoin Price Technical Analysis – Buyers Attempting a Break

Dogecoin Price Technical Analysis – Buyers Attempting a Break

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...

Cryptocurrency Exchange ShapeShift Raises $1.6m in New Funding Round

An exchange that simplified interchangeability between multiple cryptocurrencies has received $1.6 million in new funding. Dubbed as ShapeShift.io, the reputed and renowned cryptocurrency converter offers more than 35 altcoins, including the likes of Bitcoin, Litecoin, Dogecoin, Dash, Ripple, Clams, NuBits and many others. The exchange comes handy for users who wish to instantly hedge their primary cryptocurrency funds into some other altcoin, for various purposes. For instance: NuBits is one of the only cryptocurrencies whose value is pegged to the dollar. In simple words, it is considered more stable than its 400 other counterparts. During the Bitcoin’s volatile times, a user might decided to hedge his funds into NuBits as a part of his risk management...

Dogecoin Price Technical Analysis – New Low on Cards?

Dogecoin Price Technical Analysis – New Low on Cards?

Dogecoin Price Key Highlights Dogecoin price continued to remain under the bearish pressure, and our highlighted double top pattern is still in play. There is a cluster of resistance formed on the upside for buyers around 56.0-57.0 Satoshis. The price continued to consolidate near the 100 hourly simple moving average, as there was no break. Dogecoin price remains at risk of a break lower since our highlighted double top pattern is still in play. Double Top Pattern We highlighted a double top pattern yesterday, which is still in play and might act as a catalyst for a downside move in the near term. Currently, the price is consolidating near the 100 hourly simple moving average, and awaits a catalyst for the next move. The double top pattern resistance is still...

Dogecoin Price Technical Analysis – Downside Bias Vulnerable

Dogecoin Price Technical Analysis – Downside Bias Vulnerable

Dogecoin Price Key Highlights Dogecoin price continued trading in a range during the past couple of sessions, and remains at a risk of a break. There is a breakout pattern forming on the hourly chart with an important resistance around 56.0-57.0 Satoshis. Our highlighted double top pattern is still valid, but it is fading slowly as sellers failed to gain momentum. Dogecoin price continued to consolidate in a range, and currently forming a contracting triangle pattern for a break. Triangle Pattern We have been following a double top pattern on the hourly chart, and waiting for a break. However, it looks like the mentioned pattern is fading and the chances of it going in favor of a decline are less, as sellers failed to gain momentum. Currently, there is a...

Dogecoin Price Weekly Analysis – Pattern Continuation Likely

Dogecoin Price Weekly Analysis – Pattern Continuation Likely

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,...