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The ongoing correction remains the most likely scenario for the crypto market, according to CoinStats.
DOGE/USD
The rate of DOGE has dropped by almost 5% since yesterday.
On the hourly chart, the price of DOGE is testing the local resistance of $0.1482. If the daily bar closes around it or above, there is a chance to see ongoing growth to the $0.15-$0.1550 zone.
On a larger time frame, the rate of the meme coin is far from the support and resistance levels. Even if the daily bar closes bullish, the energy might not be enough for a further upward move.
Denys SerhiichukIn this case, sideways trading in the zone of $0.14-$0.1550 is the most likely scenario.
From the midterm point of view, the price of DOGE has made a false breakout of the support of $0.1411. If the weekly bar closes far from that mark, there is a chance to see a test of the $0.16 area soon.
DOGE is trading at $0.1478 at press time.
Vladislav Sopov
Dan Burgin