- Dogecoin price continued to trade in a range, and the trading range is narrowing as highlighted in yesterday’s post.
- The highlighted bearish trend line formed on the hourly chart continued to move lower, increasing the chance of a break.
- 100 hourly simple moving average is acting as a resistance below the bearish trend line.
Dogecoin price is likely heading towards a break, but we need to see how it goes moving ahead.
The Dogecoin price continued to trade in a narrow range, but the fact remains is that the price might be heading towards a break. There are a couple of things aligned, as highlighted in yesterday’s analysis, which are pointing towards a break. The first thing is that the there is a bearish trend line formed on the hourly chart. The trend line is just above the 100 hourly simple moving average. Furthermore, the Upper Bollinger Band is also acting as a barrier for buyers, and adding to the importance of the resistance zone. Moving ahead, buyers need to clear 64.0 Satoshis in order for more