Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
The cryptocurrency market has not found the local bottom yet as the coins are in the red zone.
DOGE/USD
DOGE is one of the biggest loser today among the top 10 coins, going down by 10.80%.
On the hourly chart, the price of DOGE might have found the local support level at $0.06253. However, there are low chances to see any sharp moves until the end of the day as most of the ATR has been passed. In this case, sideways trading in the range of $0.064-$0.065 is the more likely scenario.
On the bigger chart, the rate of DOGE has made a false breakout of yesterday's low at $0.06393, which serves the support level now. If the candle closes above it, traders can expect local growth to the $0.070 area.
From the midterm point of view, the candle is about to close below the support at $0.06581. If that occurs, the breakout may lead to a further drop to the $0.05588 mark by the end of the month.
DOGE is trading at $0.06457 at press time.
Arman Shirinyan
Alex Dovbnya
Vladislav Sopov
Dan Burgin