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.
The market is mostly back to the red zone as the rates of coins are falling.
DOGE/USD
DOGE is one of the biggest losers today, going down by 7%.
Despite the sharp decline, the rate of DOGE might have found the local support at $0.08750. If buyers can hold the price above that mark until the end of the day, there is a chance to see a bounce back to the $0.090 zone.
The opposite situation can be seen on the daily time frame, as the price is again trading below the resistance level at $0.09055. If bulls cannot seize the initiative shortly, the correction may continue and lead to the test of the $0.085 area by mid-April.
From the midterm point of view, the rate of DOGE has made a false breakout of the resistance at $0.09980. If the candle closes far from this level, there are low chances of seeing a continued rise as the meme coin might need more time to accumulate power for a further move.
Denys SerhiichukIn this case, consolidation in the range of $0.085-$0.095 is the more likely scenario.
DOGE is trading at $0.08983 at press time.
Vladislav Sopov
Godfrey Benjamin
U.Today Editorial Team
Dan Burgin