Dogecoin Price Key Highlights
- Dogecoin price fell and cleared an important support area as anticipated in yesterday’s analysis.
- The downside was stalled around 76.0 Satoshis, which can be seen as an intermediate support.
- 100 hourly MA might continue to act as a barrier for more gains moving ahead.
There was a clear break noted in Dogecoin price, which has increased the chance of a move lower in the near term.
71.0 Satoshis as a Support
Yesterday, we highlighted that the possibility of a break lower is increasing, as the price struggled to move higher. The price did move lower Intraday, and also cleared the bullish trend line formed on the hourly chart. The hourly close below the 100 MA proved nasty, as it was one of the main reasons why sellers were able to take the price lower. After the decline, the price stopped around 76.0 Satoshis, which is a short-term support term.
If the price manages to correct higher from the current levels, then initial hurdle is around the 23.6% Fib retracement level of the last decline from 91.7 Satoshis to 75.1 Satoshis, which is also around the Upper Bollinger Band. So, 79.1 Satoshis might act as a critical