The Baby Doge price took a sudden turn from the $0.0000000025 on January 21st resistance, which tumbled it by 42%. The token price has fluctuated in a narrow range over the past few weeks and has recently dropped below the $0.00000000359 support level. Sustaining the selling pressure, the memecoin would sink to the $0.0000000025 mark.
Key technical points:
- The BabyDoge buyers lost the 50-DAY SMA
- The daily-MACD indicator’s lines nosedive to the bearish territory
- The 24-hour trading volume in the BabyDoge token is $11.8 Million, indicating a 12.5% fall.
Source-Tradingview
During the last three weeks, the BabyDoge price resonated in a definite range between $0.00000000359 and $0.0000000043. This short consolidation allowed sellers to take a rest before they continue the correction.
On February 12th, the bear gave a decisive breakout at the bottom support of $0.00000000359, providing an excellent selling opportunity for crypto traders. The BabyDoge spent the next day retesting the breakdown level, where the higher price rejection indicates the support has turned to resistance.
The downsloping 20-SMA line indicates the bears are aggressively selling. Moreover, The Moving average convergence divergence indicator shows the MACD and signal line entered the negative territory, providing more confirmation to short-sellers.
Trending Stories
BabyDoge Price Could Sink To $0.0000000028 Mark
Source- Tradingview
Following the breakdown, the BabyDoge price has started to drop lower, indicating a $4.4% intraday loss by the time of writing this article. If bears could sustain their selling, the memecoin would soon plummet to January 22nd low($0.0000000028) or $0.0000000025.
The average directional movement index(31) slope forming new higher highs indicates the increasing selling momentum in this coin.
- Resistance level: $0.0000000043 and $0.0000000048
- Support level: 100 SMA, $0.0000000028
- U.S. Is Winning Bitcoin Mining Race But China Still Not Out Of Picture: Report
- Stablecoin Meltdown: This Token Loses $7 Billion Within A Week
- Just-In: Polygon (MATIC) Releases Nightfall Mainnet Beta; Here’s Why It’s A Big Deal
- Ripple (XRP) Price Jumps Over 4%, Here’s Why
- Coinbase Cuts Down Hiring After Q1 Losses Hit $420 Million
- Shiba Inu (SHIB) Price Soars 6% In A Day, Here’s Why
- KuCoin Lists $UST Crisis Born Stablecoin $USDD; Details
- WOO Network Halts Terra’s LUNA Trading Just Hours After Relisting It
- Terra Crash Spilled Over Into Other L-1 Blockchains, Here’s How
- SEC Chair Gensler Responds To Terra Crash, More Regulation Due?
- Ripple Price Analysis: XRP Price Remains Pressured Below $0.45
- EGLD Price Analysis: Decreasing Volume Hints EGLD to Reverse from $75
- Cardano Price Analysis: ADA Price Prepares For 22% Jump; Are You Holding?
- Bitcoin Price Analysis: BTC Price Holds Above $30,000; Opportunity To Buy?
- Ethereum Price Analysis: ETH Price Erases Recovery Gains Towards $2,000
- Decentraland Price Analysis: MANA Price Sinks 10%; Are You Still Holding?
- Bitcoin Price Analysis: BTC Price Under Bear’s Spell; Is $26,000 On Cards Again?
- ETH Price Analysis: Consolidation Range Soon To Launch ETH Above $2250
- Bitcoin Price Analysis: Triangle Breakout Sets BTC Rally To $32000 Mark
- LUNA Price Analysis: Opportunity to Buy Cheap or A Bull Trap?
