More cryptocurrencies are in the red zone today compared to yesterday, according to CoinStats.

DOGE/USD

The price of DOGE has dropped by 0.84% over the last day.

On the hourly chart, the rate of DOGE is approaching the local support of $0.1635. If it breaks out, the fall is likely to continue to the $0.16 range. Such a scenario is relevant until tomorrow.

On the bigger time frame, the price of the meme coin has made a false breakout of the formed resistance of $0.1677.

If the daily bar closes far from that mark and with a long wick, the decline may continue to the $0.1550-$0.16 zone.

From the midterm point of view, the price of DOGE is rising after a bounce back from the support of $0.1411. However, there are low chances of seeing a sharp rise as not enough energy has been accumulated yet. In this case, sideways trading in the range of $0.16-$0.18 is the most likely scenario.

DOGE is trading at $0.1645 at press time.