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.
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.