December 6, 2022

BabyDoge Price Analysis: Range Breakdown Could Lead BabyDoge To $0.0000000025 Support; Shall You Buy?

2 min read

Baby Doge to enter Metaverse Following Its Rival Shiba Inu

The Baby Doge rate took an unexpected turn from the$0.0000000025 on January 21st resistance, which toppled it by 42%. The token price has varied in a narrow range over the past couple of weeks and has recently dropped listed 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 indication’s lines nosedive to the bearish area
  • The 24-hour trading volume in the BabyDoge token is $11.8 Million, showing a 12.5% fall.

TradingView Chart Source -Tradingview Throughout the last 3 weeks, the BabyDoge price resonated in a definite range in 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 offered a decisive breakout at the bottom assistance of $0.00000000359, supplying an excellent selling opportunity for crypto traders. The BabyDoge invested the next day retesting the breakdown level, where the higher rate rejection suggests the support has actually turned to resistance.

The downsloping 20-SMA line indicates the bears are strongly selling. Additionally, The Moving average merging divergence indication shows the MACD and signal line entered the negative area, supplying more verification to short-sellers.

BabyDoge Price Could Sink To $0.0000000028 Mark

TradingView Chart

Source-Tradingview Following the breakdown, the BabyDoge price has actually started to drop lower, showing a $4.4% intraday loss by the time of writing this short article. If bears might sustain their selling, the memecoin would quickly drop to January 22nd low($0.0000000028) or $0.0000000025.

The average directional motion index( 31) slope forming new greater highs shows the increasing selling momentum in this coin.

  • Resistance level: $0.0000000043 and $0.0000000048
  • Assistance level: 100 SMA, $0.0000000028

The post BabyDoge Price Analysis: Range Breakdown Could Lead BabyDoge To $0.0000000025 Support; Shall You Buy? appeared initially on CoinGape.