Baby Dogecoin (CRYPTO: BABYDOGE) shares are trading lower Monday in a down cryptocurrency market. The crypto is trading lower alongside Dogecoin (CRYPTO: DOGE), and other popular cryptocurrencies like Ethereum (CRYPTO: ETH), and Bitcoin (CRYPTO: BTC).
Baby Dogecoin was down 5.14% at $0.000000000775 at last check.
See Also: Is The Doge Sick? Why Dogecoin Could Be In For A Bigger Drop
Baby Dogecoin Daily Chart Analysis
- Baby Dogecoin looks to be trading in what technical traders call an ascending triangle pattern.
- The $0.000000002 level has held as resistance in the past and when the crypto struggled to cross above the level. The level may continue to hold in the future. The higher low trendline is an area where the crypto has found support in the past, the area may continue to hold in the future.
- The crypto has not been around long enough for it to have a 50-day or 200-day moving average on the daily chart. But as the crypto saw a couple of falling months, it would likely trade below the moving average and show recent sentiment has been bearish.
What’s Next For Baby Dogecoin?
Bullish traders want to see Baby Dogecoin continue to move along the higher low trendline up toward the resistance level. If the resistance level can be broken, the crypto may see a further bullish push higher.
Bears are looking to see the crypto fall below the higher low trendline. This could cause the crypto to change the trend its been in and possibly cause a further bearish push.
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