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DOGE Price Analysis for February 10

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Fri, 10/02/2023 - 20:00
DOGE Price Analysis for February 10
Cover image via www.tradingview.com

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Bulls might need more time to come back to the game, according to the CoinMarketCap ranking.

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DOGE/USD

DOGE is the biggest loser today, falling by 7.64%.

DOGE/USD chart byTradingView

DOGE is trading sideways on the local time frame, accumulating power for a further move against the low volume. The rate has made a false breakout of the support at $0.08113.

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If the candle fixes near the $0.0833 mark, traders may expect an impulse to the $0.084 zone tomorrow.

DOGE/USD chart byTradingView

On the daily chart, there is a chance to see a bounce back as bears seem unlikely to drop the rate below yesterday's low at $0.07878. Likewise, a consolidation between $0.082 and $0.084 is the more likely scenario until the end of the week.

DOGE/USD chart byTradingView

From the midterm point of view, the situation is not so bearish as the rate of DOGE has made a false breakout of the support level at $0.08165. If buyers can hold the rate above that mark until the bar closure, the bounce back may continue to the $0.086 area the next week.

DOGE is trading at $0.08246 at press time.

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