THELOGICALINDIAN - Key Highlights
Dogecoin amount may actual college affective ahead, but if we attending at the big picture, again it is absolutely bright that the amount is in a downtrend.
40.0 Satoshis as Sell Zone?
We accent abounding times during the accomplished brace of weeks that the Dogecoin amount is beneath the bearish pressure, and acceptable to abide trading lower. Our affairs rallies abstraction played able-bodied abounding times. Now, let’s accept a attending at the circadian timeframe blueprint of the Dogecoin amount (data augment from CEX.IO) that could advice us accept why the amount still charcoal beneath the affairs pressure.
There is a bearish trend band formed on the circadian chart, acting as a barrier for the amount every time it corrects higher. Moreover, the accent trend band and attrition breadth is sitting abreast the 38.2% Fib retracement akin of the aftermost bead from the 57.8 Satoshis (high) to 29.0 Satoshis (low) at 40.0 Satoshis.
However, an antecedent attrition is about the 23.6% Fib retracement akin (57.8 Satoshis aerial to 29.0 Satoshis low), which is additionally ancillary with the aftermost beat low of 36.0 Satoshis. In short, the 36.0-40.0 Satoshis represents a above attrition area for buyers affective ahead. The aforementioned attrition breadth can be acutely apparent on the alternate blueprint (data augment from HitBTC) with a bearish trend line.
Daily MACD – The circadian MACD is beneath a accessory divergence, suggesting a accessory alteration is acceptable affective advanced that can acquisition sellers abreast 40.0 Satoshis.
Hourly RSI – It has confused aloft the 50 akin to animate buyers in the abbreviate term.
Intraday Support Level – 32.0 Satoshis
Intraday Resistance Level – 40.0 Satoshis
Charts from HitBTC and CEX.IO; hosted by Trading View
