Supply Pressure Threatens for 18% Drop
The post Supply Pressure Threatens for 18% Drop appeared on BitcoinEthereumNews.com. The DOGE price is poised for a decisive breakout from the narrow range in the daily time frame chart; time to accumulate? Published 4 hours ago As Bitcoin price rebounds from its $26,500 level, a ripple effect has been observed across the broader cryptocurrency market. As a result, the DOGE Price experienced a 5% uptick over the past five days, escalating from a low of $0.057 to its current trading price of $0.06. This uptrend attempts to challenge a stubborn resistance line that has led to the ongoing correction trend price action for nearly a year. Also Read: Shiba Inu And Dogecoin Get Listed On BitTrade, Price To Rally? Should You Buy at $0.055 Support? The Dogecoin price may prolong a sideways trend before giving a decisive breakout. A long-coming support trendline prevents the investors from major correction. The 24-hour trading volume in Dogecoin is $165 Million, indicating an 87% gain. Source-Tradingview In the short term, the Dogecoin price movement is primarily lateral, oscillating between two converging trendlines that serve as dynamic resistance and support levels. This formation is compressing the trading range, effectively creating a “no-trade zone.” Earlier today, this memecoin rose by 2.7% intraday, teasing a breakout above the overhead resistance. However, sellers have maintained their stronghold, pushing the DOGE price back down and forming a long-tail rejection candle. This could signify a retreat back to the lower trendline, perpetuating the sideways action. Nonetheless, as the trading range narrows, a decisive breakout—or breakdown—is becoming increasingly imminent. Should the asset manage to close above the upper trendline on the daily chart, a swift 14% rally to $0.0685 could be on the horizon. Is DOGE Price Threatened for Major Correction? The DOGE price chart reveals a persistent ascending support trendline that has been in play for over two and a…
The post Supply Pressure Threatens for 18% Drop appeared on BitcoinEthereumNews.com.
The DOGE price is poised for a decisive breakout from the narrow range in the daily time frame chart; time to accumulate? Published 4 hours ago As Bitcoin price rebounds from its $26,500 level, a ripple effect has been observed across the broader cryptocurrency market. As a result, the DOGE Price experienced a 5% uptick over the past five days, escalating from a low of $0.057 to its current trading price of $0.06. This uptrend attempts to challenge a stubborn resistance line that has led to the ongoing correction trend price action for nearly a year. Also Read: Shiba Inu And Dogecoin Get Listed On BitTrade, Price To Rally? Should You Buy at $0.055 Support? The Dogecoin price may prolong a sideways trend before giving a decisive breakout. A long-coming support trendline prevents the investors from major correction. The 24-hour trading volume in Dogecoin is $165 Million, indicating an 87% gain. Source-Tradingview In the short term, the Dogecoin price movement is primarily lateral, oscillating between two converging trendlines that serve as dynamic resistance and support levels. This formation is compressing the trading range, effectively creating a “no-trade zone.” Earlier today, this memecoin rose by 2.7% intraday, teasing a breakout above the overhead resistance. However, sellers have maintained their stronghold, pushing the DOGE price back down and forming a long-tail rejection candle. This could signify a retreat back to the lower trendline, perpetuating the sideways action. Nonetheless, as the trading range narrows, a decisive breakout—or breakdown—is becoming increasingly imminent. Should the asset manage to close above the upper trendline on the daily chart, a swift 14% rally to $0.0685 could be on the horizon. Is DOGE Price Threatened for Major Correction? The DOGE price chart reveals a persistent ascending support trendline that has been in play for over two and a…
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