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The market remains bearish after yesterday's drop, according to CoinMarketCap.
DOGE/USD
The rate of DOGE has declined by 2.07% over the last 24 hours.
On the hourly chart, the price of DOGE is near the local support at $0.1246. If the rate does not bounce back by the end of the day, one can expect an ongoing drop to the $0.12 zone.
On the longer time frame, there are also no reversal signals yet. If the daily bar closes near its low, there is a high chance of seeing a test of the nearest support at $0.1199 by the end of the week.
From the midterm point of view, one should pay attention to the weekly candle's closure in terms of the support at $0.1199.
If its breakout happens, the accumulated energy might be enough for an ongoing correction to the $0.10 range.
DOGE is trading at $0.1256 at press time.
Denys Serhiichuk
Gamza Khanzadaev
Godfrey Benjamin
Arman Shirinyan