Denys Serhiichuk
Can traders seize initiative and return DOGE to bull run quickly?
Sellers are back in the game again, according to CoinMarketCap.
Top coins by CoinMarketCap
DOGE/USD
The rate of DOGE has fallen by 4.65% over the last day.
Image by TradingViewOn the hourly chart, the price of DOGE is bearish, as it is near the local support level of $0.1625.
If the situation does not change by the end of the day, one can expect a breakout, followed by a move to the $0.16 zone.
Image by TradingViewA similar picture can be seen on the bigger time frame. If the bar closes near or below the interim support of $0.1627, the fall is likely to continue to $0.1550.
Image by TradingViewFrom the midterm point of view, the weekly bar is bearish now. However, it is too early to maky any distant predictions as only a few days remain until the candle’s closure. But if bulls lose the $0.16 mark, the drop may lead to the test of the $0.15 range soon.
DOGE is trading at $0.1629 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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