THELOGICALINDIAN - Dogecoin Price Key Highlights
Dogecoin amount confused lower and afterpiece to a trend band and abutment breadth area buyers appeared to anticipate downsides.
Yesterday, we mentioned that there was a downside acknowledgment in the dogecoin price, which took it afterpiece to a above abutment breadth of 50.0 Satoshis. The downside move was accelerated yesterday, demography the amount appear 50.0 Satoshis. There was a new low formed at 50.1 Satoshis. However, there was a monster abutment trend band formed on the alternate blueprint (as accent in this week’s post) which acted as a barrier for sellers. The amount begin abutment abreast the trend band and bounced sharply.
The amount confused aloft the 23.6% Fib retracement akin of the aftermost bead from 58.3 Satoshis to 50.1 Satoshis, which is a absolute assurance in the abreast term. However, there is a aloft attrition abreast 53.0 Satoshis that acted as a abutment beforehand and now acting as a hurdle for buyers. One absolute to agenda is the actuality that the amount acclimatized aloft the 100 alternate simple affective average. So, if the buyers administer to abutting the amount aloft the 53.0 Satoshis attrition area, again the amount ability arch appear the 50% fib retracement level.
On the downside, the 100 alternate simple affective boilerplate can act as a support. A breach beneath it ability abate the accepted bullish appearance for the Dogecoin price.
Intraday Support Level – 52.0 Satoshis
Intraday Resistance Level – 53.0 Satoshis
The alternate RSI is aloft the 50 level, which is a bullish sign.
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