Analysts forecast another sharp downside move in Bitcoin and altcoins even though technical charts are flashing a few early “bottoming” signals.
) turned down from the 20-day EMA on Jan. 26, indicating that bears are selling near this overhead resistance. The price is back inside the tight range at $0.15 to $0.13.While the downsloping 20-day EMA indicates advantage to bears, the bullish divergence on the RSI suggests that the selling pressure could be reducing. This state of uncertainty is unlikely to continue for long.
If bulls push and sustain the price above the 20-day EMA, the DOGE/USDT pair could rise toward the overhead resistance at $0.19. Conversely, if the price slips and closes below $0.13, the pair could drop to the psychological support at $0.10.) has been trading near the strong support at $16.81 for the past few days but a minor negative is that the bulls have not been able to achieve a powerful rebound off it. This indicates a lack of demand at higher levels.
Conversely, if bulls drive the price above $20.16, it will suggest a pick-up in demand. The pair may then rise to the 50-day SMA . This is an important level to watch out for because a break above it will signal a possible change in trend.
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