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Bears remain more powerful than bulls, controlling the situation on the cryptocurrency market.
DOGE/USD
DOGE is one of the biggest losers among the top 20 coins. The rate of the meme coin has dropped by 8% over the last 24 hours.
Bears have almost absorbed the recent sharp rise, which means that buyers have not accumulated enough energy yet for a further move. If the sellers' pressure continues and the daily candle closes around the $.01251 mark, one can expect a decline to the nearest support at $0.1065 within the next few days.
DOGE is trading at $0.1387 at press time.
SHIB/USD
Unlike DOGE, the rate of SHIB is almost unchanged, with a decline of only 0.11%.
Despite a slight drop, SHIB is nether bullish nor bearish as the price keeps locating in the range between the support at $0.00001695 and the resistance at $0.00003523. However, if the decline continues, the test of the support may take place next month.
SHIB is trading at $0.00002314 at press time.
Vladislav Sopov
Dan Burgin