2019-1-30 19:34 |
Dogecoin Daily Chart – Source: Tradingview.com
Doge started the week dropping below an important range it had been forming from $0.002 to $0.0023.
Doge had spent two weeks trading within this range and also traded in the same range for three weeks when it entered in late November.
Doge went on to form a 2019 low after falling below the range.
The low was formed around $0.00185.
Price has since started to rise as most top cryptocurrencies record increases today.
During the rise, Doge met resistance at the former low of the range at $0.002. It has since started to trade back down and today’s candle is currently a Doji.
A Doji candle is a candle where the open and close are around the same point and typically reflects uncertainty from traders.
Dogecoin 6-Hour Chart – Source: Tradingview.comDoge had tested the lower end of the range several times last week before eventually falling below at the start of the week.
Drops taking place across the market provided enough seller momentum for the price to drop below.
Resistance can now continue to be expected at $0.002.
It will likely take significant buyer momentum for the price to rise back above this level.
Key Takeaways: Doge started the week dropping below a key range between $0.002 and $0.0023. Price has since started to rise back up with the rest of the market but met resistance at $0.002. The current daily candle is forming a Doji reflecting uncertainty from traders. Latest Doge News:Dogecoin Price Prediction: Doge Is at the Bottom of the Support Range, Will It Continue Its Fall or Move Upward?
Dogecoin Price Action: Doge Drops Below Range Amid Bearish Market Movements
DISCLAIMER: Investing or trading in digital assets, such as those featured here, is extremely speculative and carries substantial risk. This analysis should not be considered investment advice, use it for informational purposes only. Historical performance of the assets discussed is not indicative of future performance. Statements, analysis, and information on blokt and associated or linked sites do not necessarily match the opinion of blokt. This analysis should not be interpreted as advice to buy, sell or hold and should not be taken as an endorsement or recommendation of a particular asset.Dogecoin Price Action – Doge Forms 2019 Low After Dropping Below Range was originally found on Cryptocurrency News | Blockchain News | Bitcoin News | blokt.com.
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