DOGE Technical Analysis: Risk Of Falling To $0.1
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The weekly candle closed near the opening price and formed a pin-up. Thus, sellers declared themselves and restrained the aggression of buyers with limited orders. The trading week on 11 April began with a local reduction of the DOGE price. In just one day, sellers were able to absorb the two previous weekly candles of buyers. The DOGE price stopped in the range of $0.135. This is the main buyers' support, which separates from the sharp price fall of DOGE to $0.1. Given the dynamics of the fall, the probability of maintaining the mark of $0.135 is not high enough. Our fears may be confirmed by a sluggish price rebound on a smaller timeframe from $0.135.
Technical Analysis Of DOGE On The Daily Timeframe
Analyzing the movement of the DOGE price on the daily timeframe, you can see how sellers publicly demonstrate their dominance. After a fairly successfully closed daily candle on 5 April, buyers were preparing to continue growing. However, the absorbing candle on 6 April showed that the growth trend is in question. The same signal occurred during 10-11 April. Buyers were unable to control the $0.148 mark.
However, sellers, using approximately the same trading volume were able to lower the price by 10% and update the local low. If buyers are unable to take control of the $0.148 mark during the local growth wave, this will signal a continued decline in the DOGE price with the final target of $0.1. Given the aggression of falling prices - this is a very likely scenario. But, if for 2 weeks buyers do not lower the price below $0.135 and form a consolidation in the range of $0.135-$0.148 it will be a good signal to continue the DOGE growth to $0.17. The final target of the probable growth wave is $0.27.
DOGEBTC Price Could Not Get Out Of The Downward Trend
The weekly timeframe of DOGEBTC price movement shows us the attempt of buyers to change the global growth trend. However, the attempt of buyers ended with a touch to the upper trend line of the fall channel. The weekly candle consists of half a pin, which indicates the readiness of sellers to join the fight.
Therefore, the best scenario at the moment for buyers is the formation of consolidation in the range of 0.00000297-0.00000386. This consolidation will have a great chance to shoot up and change the trend in the DOGEBTC market. In case of loss of control by buyers over the range of 0.00000297, the DOGEBTC price will continue to fall to 0.00000220.