Dogecoin Price Technical Analysis – Primed For Lift-Off

Key Highlights

  • Dogecoin price after breaking a contracting triangle recently also broke a major bearish trend line on the hourly chart.
  • The price is attempting a convincing close above the 100 hourly simple moving average, which is a positive sign.
  • If buyers gain strength we might witness a move higher in the near term.

Dogecoin price managed to settle above a major bearish trend line, suggesting that sellers are now struggling to hold the ground.

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An upside move?

The Dogecoin price struggled throughout this past week, but it looks like there are chances of it moving higher this week. There was an important bearish trend line formed on the hourly chart, which was recently breached to open the doors for more gains. However, we need more bullish signs before we can consider it as a real break. The most important one is the 100 simple moving average. The price is currently struggling to settle above the 100 SMA, which is a worrying sign. If buyers manage take the price further higher, then we might look for more upsides in the near term.

Dogecoin Price Technical Analysis<p><a href=Read more ... source: TheBitcoinNews