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The growth of the cryptocurrency market has not lasted long, according to CoinMarketCap.
DOGE/USD
The rate of DOGE has declined by 3.41% over the last 24 hours.
On the hourly chart, the price of DOGE is falling after a breakout of the local support level of $0.1605. If the daily bar closes around current levels, the decline is likely to continue to the $0.15 zone.
On the bigger time frame, the rate has once again failed to fix above the $0.16 area. At the moment, bears are more powerful than bulls.
In this case, there is a high chance to see a further correction to $0.145-$0.15. Such a scenario is relevant until the end of the week.
From the midterm point of view, it is too early to make any distant predictions as only a few days remain until the weekly candle classes. However, if it happens below the $0.16 zone, the drop may lead to a test of the $0.14 range shortly.
DOGE is trading at $0.1553 at press time.
Tomiwabold Olajide
Godfrey Benjamin
Dan Burgin
