Dogecoin Price Technical Analysis – Consolidation Underway

Key Highlights

  • Dogecoin price after spiking twice above 80.0 Satoshis started a consolidation phase.
  • 0 Satoshis is acting as a major support area for buyers and might hold for some time.
  • There is a chance of a double top pattern formation, but it might need some seller’s strength for a move lower.

Dogecoin price might continue to consolidate for some time as there is a monster support building around 64.0-62.0 Satoshis.

What’s next?

There were nasty moves in Dogecoin price, as it spiked more than two time above 80.0 Satoshis, but failed to sustain gains. It is the same reason for which there is a chance that a double top pattern may be formed. However, as there are two rejections noted around 82.0 Satoshis there is a major support forming around 62.0 Satoshis. Sellers failed many times to break the mentioned area, which might be considered as a warning sign.


The price is currently consolidating around the 100 hourly simple moving average, and staying above 62.0 Satoshis. It looks like there is a chance of one more spike if buyers continue to hold the ground. The Lower Bollinger Band is aligned with the support area, suggesting that there is

Read more ... source: TheBitcoinNews