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The market's growth has been replaced with a correction, according to CoinMarketCap.
DOGE/USD
The rate of DOGE has declined by 3.11% over the last 24 hours.
On the hourly chart, the price of DOGE has made a false breakout of the local support at $0.1469. However, if a bounce back does not happen until the end of the day, traders may witness a test of the $0.14 zone soon.
On the bigger time frame, one should pay attention to the candle closure in terms of the nearest resistance at $0.1555.
If it happens far from that mark, bears may be back in the game, which may lead to a correction to the $0.1350-$0.14 zone.
From the midterm point of view, it is too early to make any far predictions as a few days are left until the weekly bar closure. As the rate of DOGE is far from the key support and resistance levels, one should focus on the previous candle peak. If the price closes far from it, there is a chance to see a test of the $0.13 area.
DOGE is trading at $0.1462 at press time.
Godfrey Benjamin
Tomiwabold Olajide
Gamza Khanzadaev