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Bears are controlling the situation on the market on the last day of the week, according to CoinStats.
DOGE/USD
The price of DOGE has fallen by 1.48% since yesterday.
On the hourly chart, the rate of DOGE is near the local support of $0.1599. If buyers cannot seize the initiative and a breakout happens, the correction is likely to continue to the $0.1580 range.
Sellers are also more powerful than buyers on the bigger time frame. However, the price of the meme coin is far from the main levels at the moment.
The volume is low, which means ongoing sideways trading is the more likely scenario over the next few days.
From the midterm point of view, there are no reversal signals so far. If the weekly bar closes around the current prices or below, the drop may lead to a test of the $0.12-$0.14 range soon.
DOGE is trading at $0.1614 at press time.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team