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The growth has not lasted long, according to CoinStats.
DOGE/USD
DOGE is no exception to the rule, going down by 1%.
On the hourly time frame, the rate of DOGE is near the local support level, which means that bears are not going to give up so easily. If the daily bar closes around $0.05850, the breakout may lead to a blast to the $0.05830 zone soon.
A similar picture can be seen on the bigger time frame, even though the price of DOGE is far from the support. Currently, traders should pay attention to the interim zone of $0.057.
If the decline continues to it, one should expect a possible test of the $0.05560 level.
From the midterm point of view, it is too early to make any predictions as a few days remain until the candle's closure. If it happens below the last bar low, the correction is likely to continue to the $0.052-$0.054 area.
DOGE is trading at $0.05859 at press time.
Yuri Molchan
Vladislav Sopov
