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Bears have seized the initiative today, according to CoinStats.
DOGE/USD
The price of DOGE has fallen by 5.55% over the last 24 hours.
On the hourly chart, the rate of DOGE is on its way to the local support of $0.1884. If its breakout happens, the correction is likely to continue to the $0.18 area soon.
On the daily time frame, the price of the meme coin keeps going down after a false breakout of the resistance of $0.2067.
If bulls cannot seize the initiative soon, one can expect a test of the $0.18-$0.1850 zone shortly.
From the midterm point of view, the situation is similar. If the weekly bar closes far from the $0.2067 level, there is a chance of seeing an ongoing decline to the $0.18 mark by the end of the month.
DOGE is trading at $0.19 at press time.
Vladislav Sopov
U.Today Editorial Team