2019-1-15 19:34 |
Doge Daily Chart – Source: Tradingview.com
Most major cryptocurrencies recorded significant bullish movements for yesterdays trading resulting in many of them breaking above key levels.
After breaking down from a descending triangle last week, Doge has been trading in an important range for its price between $0.002 and $0.0023.
Dogecoin has previously traded in this range and has also previously experienced significant support at $0.0023.
Before a bullish breakout which took place in mid-December, Doge traded with this range for three weeks.
Dogecoin also traded just above support at $0.0023 before an over 200% appreciation at the start of September.
Doge 4-Hour Chart – Source: Tradingview.comPrice action in Dogecoin yesterday ranged from $0.00206 to $0.00223.
Price is currently trading close to the center of the range around $0.00215 where it traded for a significant amount of yesterdays trading activity.
It is likely that the price of Doge could continue to trade in this range for a prolonged period of time even with the market making strong bullish or bearish movements.
Dogecoin stayed in this range for three weeks the last time despite bearish movements taking place across the rest of the market.
Key Takeaways: Dogecoin continues to trade in a range from $0.002 to $0.0023 despite many cryptocurrencies breaking above key levels during yesterdays price action. This range has been an important area for the price action of Dogecoin in the past with price staying in the range for three weeks the last time. Dogecoin has moved independently from the rest of the market in the past and may maintain in this range even with strong bullish or bearish movements taking place across the rest of the market. Latest Dogecoin News:Dogecoin [DOGE] Price Analysis – Doge Enters Range After Descending Triangle Pattern
Will the Descending Triangle for Dogecoin [DOGE] Precede a Range Reentry?
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 [DOGE]: Price Continues to Trade in a Range Despite Bullish Market Movements was originally found on Cryptocurrency News | Blockchain News | Bitcoin News | blokt.com.
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