DOGE Price Analysis for December 17

Price Analysis
Sun, 12/17/2023 - 13:53
Cover image via www.tradingview.com
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Bulls could not seize the initiative on the last day of the week.

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DOGE/USD

The rate of DOGE has risen by 1% since yesterday. Over the last week, the price has fallen by 3.27%.

Image by TradingView

The price of DOGE might have set a local support level at $0.0933. If the growth continues, traders may expect a test of the resistance at $0.09784 by the end of the day.

Image by TradingView

A less positive picture is on the daily time frame. Buyers could not maintain the growth after the bullish candle. 

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If the correction continues and the bar closes near the support level, the accumulated energy might be enough for a dump to the $0.085-$0.090 area.

Image by TradingView

On the weekly chart, the rate of DOGE has made a false breakout of the resistance at $0.10645. If the bar closes far from that mark, there is a high chance of a further decline to the $0.08380 level.

DOGE is trading at $0.09510 at press time.