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The bounce back has not lasted long, according to CoinStats.
DOGE/USD
The price of DOGE has declined by 3.13% since yesterday.
On the hourly chart, the rate of DOGE has made a false brekaout of the local support of $0.1685. However, the price is far from the resistance.
As most of the daliy ATR has been passed, sideways trading in the area of $0.17-$0.175 is the more likely scenario until tomorrow.
On the daily time frame, the situation is similar as the rate is near the support of $0.17. If nothing changes by the end of the day, the accumulated energy might be enough for a breakout, followed by a move to the $0.16 area.
A bearish picture can be seen on the weekly chart. If the bar closes below the previous candle low, the drop is likely to continue to $0.15. Such a scenario is relevant until mid-April.
DOGE is trading at $0.1746 at press time.
Godfrey Benjamin
Tomiwabold Olajide
Gamza Khanzadaev
