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The decline continues on the cryptocurrency market, according to CoinMarkeCap.
DOGE/USD
DOGE is the biggest loser today out of the top 10 coins, falling by more than 10%.
On the hourly chart, the price of DOGE might have found a local support level at $0.18. However, one should wait until the daily bar closes.
Denys SerhiichukIf the price remains in the same place, one can expect a breakout, followed by a move to the $0.1750 zone.
On the larger time frame, the price of DOGE keeps falling after yesterday's bearish close. If the situation does not change by the end of the day, traders may witness a test of the $0.16-$0.17 area within the next few days.
On the daily chart against BTC, one should focus on the nearest level of 0.00000282. If its false breakout happens, one can expect a local rise to the 0.00000290 mark.
DOGE is trading at $0.1840 at press time.
Arman Shirinyan
Alex Dovbnya
Vladislav Sopov
Dan Burgin
U.Today Editorial Team