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Bulls have turned out to be more powerful than bears on the first day of the week.
DOGE/USD
DOGE is one of the biggest gainers today, rising by 5.35%.
On the hourly chart, the price of DOGE is in the middle of the local channel. From the technical point of view, there are low chances of seeing a further rise as the rate has passed most of the daily ATP.
In this case, sideways trading in the area of $0.064-$0.065 is the more likely scenario until tomorrow.
On the daily time frame, the rate of DOGE has tested the resistance of $0.06497. If the bar closes near it with no long wick, the breakout may lead to the test of the $0.067 zone soon.
From the midterm point of view, traders should focus on the nearest level of $0.06546. Even though the week has just started, if the candle closes around that mark, bulls may seize the initiative that can potentially lead to an upward move to $0.068.
DOGE is trading at $0.06429 at press time.
Yuri Molchan
