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The market is mainly trading sideways at the beginning of the weekend.
DOGE/USD
The price of DOGE has increased by 1.17% over the last 24 hours.
Despite today's slight rise, the rate of DOGE is returning to the local support level at $0.07605. If the closure happens near it, the accumulated energy might be enough for a continued decline to the $0.075 zone.
On the daily chart, bears are also more powerful than bulls as the price has once again made a false breakout of the resistance at $0.07890. While the rate is below that mark, there is a chance to see a correction to the zone of $0.070-$0.072.
From the midterm point of view, the rate is located closer to the resistance than to the support, which means that bulls have a chance to seize the initiative soon. However, in order for this to happen, they need to fix the price above the $0.078 zone.
Only in that case can traders expect a possible breakout followed by a blast to $0.08 and above.
DOGE is trading at $0.0764 at press time.
Tomiwabold Olajide
Alex Dovbnya
Godfrey Benjamin
