The market is again in the red zone, according to CoinStats.
DOGE chart by CoinStats
DOGE/USD
The rate of DOGE has fallen by 2% since yesterday.
Image by TradingViewOn the hourly chart, the price of DOGE is rising after setting a local support level of $0.1617. If growth continues, one can expect a test of $0.17 by tomorrow.
Image by TradingViewOn the daily time frame, the rate of the meme coin has made a false breakout of yesterday’s peak of $0.173. However, the candle is about to close far from its boundaries.
In this case, sideways trading in the zone of $0.165-$0.17 is the more likely scenario.
Image by TradingViewFrom the midterm point of view, the picture is more positive. If the weekly bar closes near or above the $0.17 level, the accumulated energy might be enough for a breakout, followed by a move to the $0.18 area.
DOGE is trading at $0.1667 at press time.
About the author
Denys Serhiichuk
With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at denys.serhiichuk@u.today.
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