- Dogecoin price is trading near a major resistance area of 40.0 Satoshis, as buyers eye a break.
- The price is following a support trend line on the hourly chart, which may push the price to higher levels moving ahead.
- A break above 40.5-40.9 Satoshis is needed for an upside move towards 44-45.0 Satoshis.
Dogecoin price looks poised for an upside move likely towards 45.0 Satoshis, if sellers fail to defend the 41.0 Satoshis resistance area.
Dogecoin Price Hurdled By Resistance at 41.0 Satoshis:
There were a few positive signs witnessed last week throughout Dogecoin’s charts, suggesting that there is a possibility of an upside break. Currently, there is a bullish trend line formed on the hourly chart (price feed from CEX.IO) that is acting as a support for an upside move.
The price is facing a critical resistance around 41.0 Satoshis, as the stated area coincides with the 61.8% Fib retracement level of the last wave from the 47.0 Satoshis (high) to 28.9 Satoshis (low). The price is also flirting with 100 hourly simple moving average (SMA), but failing