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The prices of most of the coins are facing a correction today, according to CoinStats.
DOGE/USD
The rate of DOGE has declined by 4.53% over the past day.
Despite today's fall, the price of DOGE is looking bullish on the hourly chart.
If the breakout of the local resistance of $0.25061 happens, growth is likely to continue to the $0.2540 area.
On the longer time frame, the rate of the meme coin is rising after yesterday's bearish closure. If the growth continues, one can expect a test of the $0.26 range shortly.
From the midterm point of view, neither bulls nor bears are dominating as the price of DOGE is in the middle of the channel, between the support of $0.2058 and the resistance of $0.2929. The volume keeps falling, which means there are low chances of seeing sharp moves soon.
DOGE is trading at $0.2502 at press time.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team