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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.
Tomiwabold Olajide
Dan Burgin
Alex Dovbnya
Vladislav Sopov