- Dogecoin price attempted to recover some ground after a sharp decline towards 37.0 Satoshis.
- There is a major bearish trend line on the hourly chart as highlighted in one of previous analysis, which prevented gains.
- The price is trying to settle above the 100 hourly simple moving average, which is a positive sign.
Dogecoin price showing a few bullish signs on the hourly chart, as it managed to settle above an important pivot area of 38.0 Satoshis.
Can it settle above 100 MA?
There was a sharp upside reaction noted in the Dogecoin price, as it moved higher closer to 45.0 Satoshis. However, there was a strong selling interest noted around the mentioned area, as the highlighted bearish trend line on the hourly chart acted as a barrier. There was a major rejection noted around the trend line and resistance area, and the price moved back lower. The main thing to note about this move was the fact that the price settled above a critical area of 38.0 Satoshis. This means there is a chance of more upside leg in the near term.
Moreover, the price is