Dogecoin Price Weekly Analysis – Facing Resistance At 55.0 Satoshis

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Key Highlights

  • Dogecoin price after gaining strength failed and started to move down once again.
  • There is a bearish trend line formed on the 4-hours chart (data feed from HitBTC), which can be seen as a major resistance area for the bulls.
  • The price is also below the 100 simple moving average on the 4H timeframe, which is a bearish sign.

Dogecoin price recently traded above 60.0 Satoshis, where it found sellers and traded down. Can it continue heading lower?

Sell Rallies?

Dogecoin price this past week spiked above the 60.0 Satoshis area where it found sellers that pushed the price back down. The price is currently following a bearish path and it looks like it may continue in the near term. There are many hurdles formed for the bulls on the upside that can be seen as a sell zone.

There is a bearish trend line formed on the 4-hours chart (data feed from HitBTC), which may act as a barrier if the price continues to head higher. The most important point is that the 100 simple moving average on the 4H timeframe is also around the trend line resistance area. Moreover, the 38.2% Fib retracement level of the last drop from


Read more ... source: NewsBTC USA

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