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Breaking News: Crypto Bulls Rejoice: Congresswoman Confirms Powell’s Imminent Firing

Dogecoin Price Technical Analysis- Bull Ride

Aayush Jindal
Aayush Jindal
10 years ago
2 mins read
DOGECOIN PRICE BULL RIDE

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Dogecoin Price Key Highlights

  • Dogecoin price surged higher one more time to retest the previous swing high as anticipated in yesterday’s analysis.
  • The price failed once again around 90.0 Satoshis, which raises the prospect of a double top pattern.
  • 100 MA still holds the key for more losses in the near term.

Buying Dogecoin on dips turned out to be a great plan, as the price traded higher after testing the 100 MA.

Double Top Pattern

As mentioned and forecasted yesterday, there was an upside move in Dogecoin price after sellers failed to take the price below the 100 hourly MA. The price climbed all the way back to the recent high of 90.0 Satoshis where sellers managed to protect gains one more time. Since, the price failed around a same area twice, there is a chance of a double top pattern formation. However, sellers might need a solid reason to take the price lower as buyers are in control and it would be difficult to outpace them at the moment.

Dogecoin

The Bollinger Bands have started to shrink, meaning the price might consolidate in a range moving ahead. On the downside, the 100 hourly simple moving average is the most important support area, i.e. currently around 76.0 Satoshis. A break below the same could set the price for a move towards a bullish trend line on the hourly chart, positioned at 73.0 Satoshis.

On the upside, an initial resistance is around the 38.2% Fib retracement level of the last drop from 89.3 Satoshis to 75.9 Satoshis. A break above the same might clear the way for a move towards the 50% fib level.

The most important hurdle is around the Upper Bollinger Band sitting around the 61.8% Fib level.

Intraday Support Level – 80.0 Satoshis

Intraday Resistance Level – 84.0 Satoshis

In short, the possibility of the price moving higher is more as long as buyers are in action.

 

Charts courtesy of Trading View

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Aayush Jindal
Aayush Jindal

Aayush Jindal

Aayush Jindal, a luminary in the world of financial markets, whose expertise spans over 15 illustrious years in the realms of Forex and cryptocurrency trading. Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis.

Read more

From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation.
As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape.

In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions.

Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he's trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences.

Aayush's journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department.

At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he's poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush's unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe.

In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.

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Comments 1

  1. John says:
    10 years ago

    To the MOON!!!!

    Reply

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Comments 1

  1. John says:
    10 years ago

    To the MOON!!!!

    Reply

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

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