Denys Serhiichuk
Can traders expect increased volatility of DOGE until end of week?
The situation on the market has not changed much as the rates of most of the coins keep falling, according to CoinMarketCap.
Top coins by CoinMarketCap
DOGE/USD
The price of DOGE has dropped by 1.05% over the last 24 hours.
Image by TradingViewOn the hourly chart, the rate of DOGE is rather more bullish than bearish as it is near the local resistance level of $0.1489. If it breaks out, the growth may continue to the $0.15 zone tomorrow.
Image by TradingViewThe price of DOGE has not kept falling after yesterday’s bearish closure. However, it is too early to think about a fast reversal as the meme coin has not accumulated enough energy yet.
In this case, sideways trading in the zone of $0.145-$0.15 is the more likely scenario until the end of the week.
Image by TradingViewOn the bigger time frame, the picture is more bearish. If the weeky bar closes around current prices, bears may seize the initiative in the midterm, which can lead to a more profound drop to the $0.12-$0.13 range.
DOGE is trading at $0.1480 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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