Dogecoin Price Key Highlights
- Dogecoin price is showing signs of a break, but it needs momentum moving ahead.
- There is a bearish trend line formed on the hourly chart, which must be cleared for more gains.
- On the downside, 60.0 Satoshis remains a major hurdle for sellers.
Dogecoin price continued to consolidate, but as mentioned there is an increase in volatility signaling a break ahead.
Trend Line Break?
We highlighted in yesterday’s analysis that there is an increase in volatility noted, which means there are chances of the price breaking the range trading pattern. Currently, there is a bearish trend line formed on the hourly chart, which is acting as a barrier for buyers in the near term. Moreover, the 100 hourly simple moving average is also adding to the bearish pressure and stalling the upside move. This is not all as the Upper Bollinger Band is sitting along with the 23.6% Fib retracement level of the last drop from 82.0 Satoshis to 59.8 Satoshis at 66.0 Satoshis.
We can safely say that 66.0