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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.
The weekend has started neutral for the cryptocurrency market, according to CoinMarketCap.
The rate of DOGE has fallen by 1.74% over the last 24 hours.
On the hourly chart, the price of DOGE is in the middle of the local channel between the support at $0.1628 and the resistance at $0.1721.
As most of the daily ATR has been passed, ongoing sideways trading in the area of $0.1650-$0.170 is the more likely scenario.
A similar situation is on the bigger time frame. Neither buyers nor sellers have accumulated enough energy for growth or a fall. The upward move may only continue if the rate returns to the $0.18 zone.
From the midterm point of view, the weekly bar is about to close far from its peak. If that happens, traders may witness consolidation in the area around $0.15 within the next few days.
DOGE is trading at $0.1674 at press time.