Dogecoin Price Analysis, Solana, Tron – Dec 17

Despite a bullish recovery window, Dogecoin noted a substantial pullback after forming a descending triangle, while Solana was down 3.43% in the past 24 hours.

Short-term technical data for these cryptocurrencies visibly hinted at a decrease in buying pressure. Tron, however, continued its month-long downtrend.

Dogecoin (DOGE)

The DOGE bears quickly reversed the jump from December 14 as the meme coin rekindled its bearish tendencies. After Elon Musk claim, the alt spiked to $ 0.2205 but saw a sharp pullback from 38.2% Fibonacci level. Therefore, you noticed a decrease of 22.14% in the last three days.

DOGE made lower highs while holding the $ 0.17 support, exhibiting a bearish slant (descending triangle, green). Any further breakdown would find an immediate support level to test at the $ 0.162 mark.

At press time, DOGE was trading at $ 0.1732, 76.4% below its ATH. The RSI It fell below the 49 mark, representing a selling bias. He too Awesome Oscillator (AO) formed bearish twin peaks, reaffirming the previous analysis. Although the DMI showed a marginal bullish bias, it was not enough to alter the broader trend.

Solana (SOL)

Source: TradingView, SOL / USD

In recent days, the altcoin experienced an 18% breakout of the descending widening wedge after a breakout of the ascending (white) channel. The bulls quickly broke the immediate resistance at $ 181 and now found the closest support at the $ 176 mark.

SOL declined steadily for the past month after hitting its lifetime milestone on November 6. The alt dived to hit its eight-week low on December 13.

At press time, SOL was trading at $ 177.5475, 31.4% below its ATH. However, considering the recent bullish move, it moved above 20-50. senior High School. The RSI saw a 10-point slip but swayed above the midline. In addition, the TO THE Y MACD hinted at decreasing buying pressure. But the ADX showed a weak directional trend for SOL.

Tron (TRX)

TRXUSDT 2021 12 17 15 44 24

Source: TradingView, TRX / USDT

In recent days, the alt saw a growing wedge breakout. As the bulls failed to hold the ten-week resistance at the $ 0.0899 mark, TRX consolidated between $ 0.082 and the aforementioned mark. Recent price movements formed a symmetrical triangle on the coin’s 4-hour chart.

TRX price action saw a sharp decline after hitting its six-month high on November 15. After falling into a descending channel (yellow), the alt also saw a breakout to touch its 16-week low on December 3.

At press time, TRX was trading at $ 0.0848 after noticing a 3.19% loss on its daily chart. The RSI was unable to sustain itself above the midline as it plunged toward level 41. Furthermore, the DMI represented a bearish preference, but the ADX showed a weak directional trend.

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Dogecoin Price Analysis, Solana, Tron – Dec 17

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