Dogecoin Price Technical Analysis – Next Leg Lower Underway

Dogecoin Price Key Highlights

  • Dogecoin price traded higher recently, but the upside move was not convincing, which leaves it at a risk of declines.
  • The broken trend line (as highlighted in yesterday’s post) was tested again.
  • There is a chance that the price might head lower one more time and retest 60.0 Satoshis in the near term.

Dogecoin price failing to hold gains is a worrying sign, and might call for a move lower if buyers did not manage to push it higher.

Author Ads

Author Ads

Retest of 60 Satoshis?

The Dogecoin price showed a lot of bearish signs on the hourly chart, which leaves it at a risk of a move lower in the near term. As highlighted yesterday, there was a trend line break, which can be a false one and might push the price lower. It looks like there could be a downside reaction and the price might head towards the last swing low of 60.0 Satoshis. There is a major divergence forming on the hourly RSI, which supports the mentioned scenario.


One important

Read more ... source: TheBitcoinNews