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DOGE Price Analysis for July 8

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Sat, 8/07/2023 - 18:00
DOGE Price Analysis for July 8
Cover image via www.tradingview.com

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There is no clear trend on the cryptocurrency market, according to CoinMarketCap's ranking.

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Top 10 coins by CoinMarketCap

Top coins by CoinMarketCap

DOGE/USD

The price of DOGE has almost not changed since yesterday. Over the last week, the price has fallen by 4%.

DOGE/USD chart by Trading View

Image by TradingView

Despite the fall, the rate of DOGE is approaching the local resistance level at $0.06562. If the daily bar closes around it, traders can expect a price blast to the $0.0665 zone tomorrow.

DOGE/USD chart by Trading View

Image by TradingView

On the bigger time frame, the rate of DOGE has not decided which way to go yet as the price keeps trading sideways. In this regard, ongoing consolidation in the area of $0.065 is the more likely scenario for next week.

DOGE/USD chart by Trading View

Image by TradingView

On the weekly chart, the rate of DOGE has once again bounced back from the resistance at $0.07269, which confirms the buyers' weakness.

Related

Respectively, a further decline to the support level is the more likely scenario for the next weeks.

DOGE is trading at $0.06536 at press time.

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