Dogecoin Price Technical Analysis – 50.0 Satoshis Holds Key

Key Highlights

  • Dogecoin price continued to trade lower and even created a new low to trade near 50.0 Satoshis.
  • 50.0 Satoshis holds a lot of importance in the near term, and might produce a bounce moving ahead.
  • A break below the stated level could ignite a major downside reaction if sellers gain control.

Dogecoin price continued to slide, and even cleared the last low of 51.3 Satoshis to trade towards 50.0 Satoshis.

Trend Line Support

There was a new low created this past week in the Dogecoin price at 51.3 Satoshis. However, sellers were in control, which took the price lower further to create a new low of 50.3 Satoshis. However, there is a support trend line formed on the hourly chart connecting all major previous swing lows. The highlighted trend line came for rescue of buyers and helped them to prevent losses. There is no denial that there is a major support formed near 50.0 Satoshis, as the stated level holds the key in the near term.

Dogecoin Price Technical Analysis Dogecoin Price Technical Analysis

A break below the trend line and support area might be very bearish for

Read more ... source: NewsBTC USA