Key Highlights
It looks like there is no stopping the sellers, as the Dogecoin price continued to weaken Intraday.
Yesterday’s highlighted sell idea played well, as the price declined below 35.0
The hourly RSI is below the 50 level, signaling the fact that buyers are struggling to gain traction.
Dogecoin price broke yesterday’s low of 34.7 Satoshis to trade towards 30.0 Satohis which seems to be an important support area.
What we can expect next?
The Dogecoin price formed a new weekly low around 30.0 Satoshis, which represents a major support area and might ignite a corrective rally. However, there are still many resistances on the upside for buyers and it won’t be an easy task for them to clear them. There is a bearish trend line and 100 simple moving average (MA) confluence area formed on the hourly chart around 38.0-40.0 Satoshis. The stated resistance area holds the key moving ahead, and as long as the price is below it, sellers may remain in control.
http://www.newsbtc.com/2015/11/05/dogecoin-price-technical-analysis-breakdown-looks-like-real-deal/
