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The weekend has started with continued market growth, according to CoinMarketCap.
DOGE/USD
DOGE has gained a lot of value today, rising by 7.05%.
On the hourly chart, the rate of DOGE has made a false breakout of the local resistance of $0.2383. If the candle closes far from that mark, there is a high chance of a correction to the $0.23 area.
On the bigger time frame, bulls keep controlling the situation on the market. In this case, one should focus on the bar closure in terms of the resistance of $0.2466.
If a breakout happens, the accumulated energy might be enough for an ongoing upward move to the $0.25-$0.26 zone.
From the midterm point of view, the price of DOGE is in the middle of the wide channel between the support of $0.1411 and the resistance of $0.2867. As neither side has seized the initiative yet, ongoing sideways trading in range of $0.22-$0.25 is the more likely scenario.
DOGE is trading at $0.2364 at press time.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team