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Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U. Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Bears are trying to seize the initiative, according to CoinStats.
The rate of DOGE has declined by 2.59% since yesterday.
On the hourly chart, the price of DOGE is looking bearish as it is returning to the local support level of $0.08427.
If the situation does not change, one can expect a breakout followed by a blast to $0.08350.
A similar picture is on the daily time frame. Currently, one should pay attention to the $0.08392 level. If the candle closes below it, the drop may continue to a test of the $0.083 zone.
From the midterm point of view, the rate of DOGE is in the middle of the channel. If the weekly bar closes around the current prices, consolidation in the area of $0.083-$0.086 is the more likely scenario for next week.
DOGE is trading at $0.0845 at press time.