Dogecoin Technical Analysis: Price Meets Resistance at Former Range Low

2019-2-1 19:39

Dogecoin Daily Chart – Source: Tradingview.com

The cryptocurrency markets underwent a brief recovery yesterday from their bearish start to the week.

Doge rose to meet resistance at the point of its former range low.

Doge traded in a range from $0.002 to $0.0023 for a period of two weeks until it broke below at the start of this week as bearish conditions hit the market.

Price met resistance at $0.002 yesterday as the price rose.

Price has since returned on a downward trajectory.

The next level to monitor for doge is the 2019 low at $0.00185.

Dogecoin 6-Hour Chart – Source: Tradingview.com

The 6-hour chart shows in closer detail how price has behaved with the levels.

Price has been forming a far more bearish pattern since dropping below $0.002.

Yesterdays failure to overcome resistance at $0.002 marked a lower high, and it is likely that price will continue to new 2019 lows on the next significant drop.

Key Takeaways: Doge met resistance at its former range low during yesterdays brief market recovery. The failure to overcome resistance has resulted in a bearish market structure with a lower high formed. The next key level to monitor is the 2019 low at $0.00185. It is highly possible that the price could drop to this point during the next drop. Latest Dogecoin News:

Dogecoin Price Action – Doge Forms 2019 Low After Dropping Below Range

Dogecoin Price Prediction: Doge Is at the Bottom of the Support Range, Will It Continue Its Fall or Move Upward?

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 Technical Analysis: Price Meets Resistance at Former Range Low was originally found on Cryptocurrency News | Blockchain News | Bitcoin News | blokt.com.

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range low former resistance bearish start dogecoin

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