Buyers are not ready yet to seize the initiative at the moment, according to CoinStats.

DOGE/USD

The rate of DOGE has dropped by 12% since yesterday.

On the hourly chart, the price of DOGE has made a false breakout of the local support of $0.1878. However, if the bounce back does not happen by the end of the day, traders may witness a test of the $0.1850 area shortly.

On the bigger time frame, there are no reversal signals so far. 

If the correction continues to the nearest support level, there is a chance to see a breakout, followed by a further decline to the $0.16 mark.

From the midterm point of view, the rate of DOGE is on its way to the $0.1750 level. If buyers cannot seize the initiative, we might witness a test of the $0.15 range soon.

DOGE is trading at $0.1896 at press time.