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Neither bulls nor bears are controlling the situation on the market today, according to the CoinMarketCap ranking.
DOGE/USD
The rate of DOGE has risen by 1.24% over the last 24 hours.
Image by TradingView
On the hourly chart, the rate of DOGE is trading near the local resistance at $0.06847. If buyers can hold the gained initiative, traders can expect a channel breakout and further upward move to the $0.07 zone.
Image by TradingView
On the bigger time frame, the price of SHIB has not decided yet which way to go. Thus, the volume has fallen, which means that buyers are not ready yet to get back in the game. Currently, one should focus on the interim mark of $0.065.
If a breakout of it happens, there is a high possibility to see a test of the support at $0.06251 shortly.
Image by TradingView
From the midterm point of view, sellers are not giving up as the rate keeps slowly approaching the support at $0.05577. In this case, traders are likely to see an ongoing drop to the area of $0.04-$0.05 by the end of the month.
DOGE is trading at $0.06806 at press time.
Arman Shirinyan
Alex Dovbnya
