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The crypto market is still under sellers' pressure, according to CoinStats.
DOGE/USD
The price of DOGE has fallen by 3.38% since yesterday.
On the hourly chart, the rate of DOGE is approaching the local resistance of $0.1575. If its breakout happens, the upward move is likely to continue to the $0.16 range shortly.
On the longer time frame, the price of DOGE has made a false breakout of yesterday's bar's low at $0.15. However, buyers might need more time to accumulate energy for a further move.
In this case, sideways trading in the zone of $0.1550-$0.1650 is the most likely scenario.
From the midterm point of view, the situation is rather more bearish than bullish. If a breakout of the nearest level of $0.1515 happens, the drop may lead to a test of the $0.13-$0.14 area soon.
DOGE is trading at $0.1571 at press time.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team