Bears have seized the initiative according to the CoinMarketCap ranking.
DOGE/USD
The rate of DOGE could not withstand the sellers' pressure, declining by 5.50%.
On the hourly chart, the price of DOGE has broken the support level at $0.08974. If buyers cannot restore the rate above that mark until the end of the day, the fall may continue to the $0.08 zone tomorrow.
On the daily chart, the rate of DOGE has started a sharp drop after a bounce back of the $0.095 mark. Until the price is below that interim level, sellers remain more powreful than bulls.
Respectively, there is a high chance to see the ongoing correction. Such a scenario is relevant until the end of the week.
On the weekly time frame, neither bulls not bears are dominating as the price is far away from they key levels. In this case, the ongoing consolidation in the range of $0.085-$0.095 remains the more likely scenario until the end of the month.
DOGE is trading at $0.0892 at press time.
Tomiwabold Olajide
Yuri Molchan
Godfrey Benjamin