Dogecoin Price Key Highlights
- Dogecoin price after completing our highlighted double top pattern moved lower and created a new low Intraday below 58.0
- There were many spikes noted on the upside and downside which leaves the price in a range.
- It looks like both buyers and sellers are in action, which is causing a lot of swing moves.
Dogecoin price moved lower during this past week, but buyers managed to defend sharp losses and pushed it back higher.
Trend Line Support Area
As highlighted in this past week’s analysis, there was a major downside reaction noted in the Dogecoin price. There was a double top pattern on the hourly chart that paved the way for more losses in the near term. The price fell sharply and traded below an important support area of 60.0 Satoshis, and even traded below another support area of 58.0 Satoshis.
A new low is formed around 57.7 Satoshis, and buyers appeared around the stated level and prevented the downside. There was a sharp upside reaction noted which took the price above the 100 hourly simple moving average. There