Dogecoin Price Technical Analysis for 27/03/2015 – Mixed Signals!

Click here to view original web page at www.newsbtc.com

Dogecoin price on the 4-hour chart from Hitbtc is giving mixed signals, with the cryptocurrency pair enjoying increased volatility recently. Price has tossed around inside its short-term range but made a few spikes higher and lower, as buyers and sellers still can’t pick a clear direction for price action.

Technical indicators on the same time frame are giving mixed signals, with some suggesting a potential reversal from the longer-term drop and others suggesting a potential continuation of consolidation.

dogecoin price, dogecoin trading, dogecoin charts

Longer-term time frames of dogecoin price against bitcoin show that the pair is trading at the bottom of a falling trend channel, which seems to be holding as support. If price continues to gain upside momentum following its recent bounce, a short-term reversal might take place.

Conclusion

Dogecoin price is showing signs of moving higher, even as price has been falling back inside its consolidation range. Sustained buying momentum could lead to an upward EMA crossover, which would confirm a potential short-term climb. However, stochastic is still suggesting that selling pressure is increasing and that price could resume its long-term drop.