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The bounce back has not lasted for long, as all of the top 10 coins are back in the red zone.
Top coins by CoinMarketCap
DOGE/USD
The rate of DOGE has followed the drop of other coins, going down by 7.22%.
Image by TradingView
After a sharp drop, the price of DOGE is trading within the narrow range, accumulating power for a further sharp move. If the rate closes near the local resistance at $0.06689, there is a chance to see a correction to the $0.068 zone tomorrow.
Image by TradingView
On the bigger time frame, the rate of DOGE has started to fall after a long-term accumulation. At the moment, the price is trading below the important level at $0.06689.
If buyers cannot seize the initiative and restore the rate above that mark, there is a high possibility of seeing an ongoing downward move to the $0.064 area shortly.
Image by TradingView
On the weekly chart, the rate of DOGE has almost tested the support at $0.06253. At the moment, one should pay attention to the bar closure. If it happens near that mark, one can expect a decline to the $0.06 zone by the end of the month.
DOGE is trading at $0.066 at press time.
Vladislav Sopov
Dan Burgin