DOGE, DIA & BAT: Technical Analysis For April 7

Dogecoin (DOGE) is trading inside an ascending triangle, from which a breakout is expected.

Basic Attention Token (BAT) has potentially created a double top pattern.

DIA (DIA)

DIA has been decreasing since April 5, when it reached an all-time high price of $5.40.

However, the drop took it to the $4.05 area, which previously acted as support. DIA bounced as soon as it reached it and is creating a long lower wick. 

This is seen as a sign of bullish pressure. 

Also, technical indicators are bullish. Both the MACD & Stochastic oscillator are increasing. Besides, the RSI has generated hidden bullish divergence.

Therefore, a new all-time high for DIA is expected.

Highlights

• DIA reached a new all-time high on April 5. 
• It is re-testing the $4.05 level.

Dogecoin (DOGE)

DOGE has been moving downwards since reaching a high of $0.086 on Feb. 17. The decrease continued until Feb. 23, when DOGE began to bounce. 

Afterward, the ensuing upward movement took it to the $0.064 resistance area. Besides being a horizontal resistance level, it is also the 0.5 Fib retracement of the previous decrease. 

The movement since the bounce resembles an ascending triangle, which is considered a bullish pattern.

So far, DOGE has made four unsuccessful breakout attempts. Despite this, technical indicators are bullish. 

The MACD has given a bullish reversal signal, the RSI has crossed above 50, and the Stochastic oscillator is very close to making a bullish cross.

A breakout that travels the entire height of the pattern would take it all the way to the all-time high resistance at $0.087.

Highlights

• DOGE is facing resistance at $0.064.
• It is trading inside an ascending triangle.

Basic Attention Token (BAT)

BAT has been increasing since March 25. The increase took it to a new all-time high price of $1.38 on April 7.

However, BAT dropped almost immediately afterward. 

This has created what looks like a double top, which is considered a bearish reversal pattern. 

Also, the RSI, MACD & Stochastic oscillator have generated bearish divergence. 

Therefore, the most likely scenario would have BAT dropping towards the closest support at $0.92.

Highlights

• BAT has created a double top pattern.
• Technical indicators are showing weakness.