Dogecoin Price Technical Analysis for 01/12/2015 – Sell Target Achieved

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Key Highlights

  • Dogecoin price fell and tested our sell target of 30.0 Satoshis where buyers may appear.
  • There is a chance of a bounce from the stated level, as it represents a major support as highlighted in the 2-hours chart (price feed from CEX.IO).
  • On the upside, the hourly simple moving average could continue to stall gains and prevent the upside move.

Dogecoin price reached 30.0 Satoshis as forecasted, and now it’s time for sellers to consolidate and wait for a short-term correction.

Recovery Possible?

Dogecoin price continued to move down Intraday, and cleared yesterday’s low to trade near 30.0 Satoshis. The stated level holds a lot of importance for both buyers and sellers, so there is a chance of an increase in volumes moving ahead. Buyers may step in and prevent any additional weakness, but we cannot discard the fact that there can be more losses in the near term.

Dogecoin Price Technical Analysis Dogecoin Price Technical Analysis

The price fell sharply Intraday to trade as low as 29.9 Satoshis where it found support. The stated level is also the last swing low for Dogecoin price, which adds

Read more ... source: NewsBTC USA

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