NewsletterBaby Dogecoin Price Analysis: A Bounce Back Near Multiple Support of $0.000000001140
The Baby DogeCoin (BABYDOGE) price edges higher on Wednesday. The asset price analysis had turned positive as BABYDOGE manages to defend the crucial $0.0000000011 level. A jump in the price was recorded after Singapore-based cryptocurrency exchange, Deepcoin extend support for Baby DogeCoin (BabyDoge).
- Baby Doge Coin manages to print gains following two days’ correction.
- A daily close above $0.000000001180 would bring more gains in the token.
- Meme coin records 20% losses in the past eight days.
As of publication time, BABYDOGE/USD is exchanging hands at $0.00000001180, up 4.13% for the day. The 24-hour trading volume reads at $3,320,482 with a modest loss of 0.50%.
BABYDOGE price points further gains
On the 4-hour chart, the Baby DogeCoin (BABYDOGE) price formed a ‘bullish piercing’ pattern near $0.000000001129 resulting in the bounce back toward $0.000000001198. The price is consolidating near the higher levels.
However, the price still remains below the 20-day exponential moving average (EMA) at $0.000000001203. In addition to that, the descending trend line from the highs of $0.000000001458 acts as a strong upside barricade for the buyers.
The MACD oscillator trades below the central line since July 23. However, it recently gives the bullish crossover with the increasing histogram. This, suggest the upside is expected to continue.
We expect BABYDOGE price to meet the $0.000000001200 level. If taken successfully next, $0.000000001250 could be the next possibility.
On the other hand, if the price remains depressed below $0.000000001160 the continuation of the downside cannot be ruled out. The bears would meet the $0.000000001130 level.
1-hour chart indicates short-term upside
On the 1-hour time frame, the BABYDOGE price moved inside the bearish wedge pattern. Currently, the price is taking support near the lower trendline of the pattern. The price bounced backed every time it tested the trendline. In this case, the price could testify to the $0.0000000012 level followed by $0.000000001220 in the short term.
The price is oscillating near the 20-day EMA with fresh buying interest.
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