Dogecoin Price Technical Analysis for 17/2/2015 – Promoting Stability
Dogecoin price traded yesterday between 56 and 62 satoshis, which points to the relative stability of dogecoin price in the face of the high volatility of other cryptocurrencies at the moment.
By studying the 1 day Hitbtc (DOGE/BTC) charts from tradingview.com and plotting the MACD indicator accordingly (look at the below chart), we can see how dogecoin price increased yesterday from 56 to 62 satoshis. If the current uptrend continues to push the price above the 50% Fibonacci retracement level (64.5 satoshis) as per our yesterday’s analysis, we can expect the price to rise to test the 62% Fibonacci retracement level (76.8 satoshis) within the next 48 hours.
This post was published at NewsBTC on February 17, 2015.