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The market has almost changed to red today, according to CoinStats.
DOGE/USD
The price of DOGE has declined by 4.43% over the last 24 hours.
On the hourly chart, the rate of DOGE is about to break the local resistance of $0.1297. If it happens and the daily bar closes far from that mark, the upward move is likely to continue to the $0.1350 range.
On the bigger time frame, the price of DOGE has made a false breakout of the yesterday's bar low at $0.1248.
Even if the candle closes far from it, buyers might need more time to accumulate energy for a further move. In this case, the sideways trading in the zone of $0.1250-$0.1350 is the more likely scenario.
From the mid-term point of view, there are no reversal signals so far. The volume is low which means traders are not ready yet to seize the initiative.
DOGE is trading at $0.1305 at press time.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team