Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Neither buyers nor sellers are dominating on the first day of the week, according to the CoinMarketCap ranking.
DOGE/USD
The price of DOGE has risen by 0.84% over the last 24 hours.
Despite a slight rise, the price of DOGE is on the way to the local support on the hourly chart. If the daily candle closes near the $0.08250 mark, the accumulated energy might be enough for a channel breakout, followed by a blast to the $0.08150 zone.
Bears are also more powerful on the daily chart, as buyers could not keep the growth going after yesterday's bullish bar. At the moment, one should pay attention to the interim mark of $0.084. If closure above it does not happen, sellers can keep the pressure in the $0.080 zone.
On the weekly chart, the price of DOGE is trading sideways as the rate is in the middle of the channel, accumulating energy for a further move. There are low chances to see growth this week, as the volume keeps falling.
Denys SerhiichukAll in all, continued consolidation in the range of $0.08-$0.09 is the more likely scenario until the end of the month.
DOGE is trading at $0.08287 at press time.
Alex Dovbnya
Vladislav Sopov
Dan Burgin