{"id":12645,"date":"2015-02-16T06:06:39","date_gmt":"2015-02-16T11:06:39","guid":{"rendered":"https:\/\/wncen.com\/?p=12645"},"modified":"2019-09-30T16:02:45","modified_gmt":"2019-09-30T16:02:45","slug":"dogecoin-price-technical-analysis-1622015-time-beginning","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/dogecoin-price-technical-analysis-1622015-time-beginning\/","title":{"rendered":"Dogecoin Price Analysis for 16\/2\/2015 \u2013 Time: The Beginning!"},"content":{"rendered":"
As of today, I will start doing a daily dogecoin price technical analysis, so it is rather wise to set up resistance and support levels that will guide us through our analysis during the upcoming couple of weeks. <\/em><\/p>\n Dogecoin price increased from 59 satoshis to 61 satoshis yesterday. Although the price dropped to 56 yesterday, the bears didn’t manage to keep the downtrend rolling to keep the price down. Yesterday’s market behavior proves that the 52 satoshi level is supporting the price well, as shown by the long downwards shadows of the candlesticks corresponding to today’s and yesterday’s trading sessions (look at the pair of candles inside the blue cloud on the below chart).<\/p>\n <\/a><\/p>\n By drawing a trend line between the high reached on the 22nd of September 2014 (116 satoshis) and the low reached on the 4th of August 2014 (12 satoshis) on the 1 day Hitbtc DOGE\/BTC charts from tradingview.com<\/a> and plotting the Fibonnaci retracements accordingly (look at the below chart), we can conclude that the price can drop down to around 52 satoshis to touch the 38% Fibonacci retracement level, before it would rise again to touch the 50% Fibonacci retracement level.<\/p>\n