Dogecoin Price Technical Analysis – 30-Min Chart Suggest a Break

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Key Highlights

  • Dogecoin price traded a few points higher and currently trading near a major resistance area on the 30-min chart (data feed from HitBTC).
  • There is a hint of a break above a bearish trend line on the 30-min chart, which can take the price higher.
  • Looking at the hourly chart (data feed from CEX.IO), there lies a major confluence resistance zone at 31.0-32.0 Satoshis.

Dogecoin price is still below a pivot area of 31.0-32.0 Satoshis, but looking at the 30-min chart there is a chance of a minor upside move.

Can Buyers Capitalize?

Dogecoin Price chartDogecoin Price chart

We have been following a major resistance area at 31.0-32.0 Satoshis for some time now, and still there was no break above it. However, there are a few positive signs emerging if we looks at the lower time frame charts. There is a bearish trend line formed on the 30-min chart (data feed from HitBTC), which is almost cleared by buyers. A successful close above the highlighted trend line and resistance area could take the price higher.

One bearish sign is the fact that the RSI is diverging and not following

Read more ... source: NewsBTC USA

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