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 coins have not decided which way to go as some of them keep rising while others have returned to the red zone.
Top coins by CoinMarketCap
DOGE/USD
The rate of DOGE has fallen by 0.87% over the last 24 hours.
Image by TradingView
Despite the decline, the rate of DOGE has made a false breakout of the recently formed support level at $0.077. If closure happens far from it, the bounce back may continue to the $0.0785 mark tomorrow.
Image by TradingView
On the daily time frame, the situation is the opposite as the rate is slowly approaching the support at $0.07620. If buyers cannot seize the initiative shortly, the accumulated energy since the end of April can be enough for a sharp drop to the $0.072-$0.074 zone.
Image by TradingView
A neutral situation is on the weekly chart as the rate is far from the key levels. However, if the drop continues to the $0.07 mark and closes below it, the bearish midterm trend might return to the market. Overall, it can lead to a fall to the $0.055 area by the end of the month.
DOGE is trading at $0.07796 at press time.
Dan Burgin
Alex Dovbnya