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Bears are trying to seize the initiative, according to CoinStats.
DOGE/USD
The rate of DOGE has declined by 2.59% since yesterday.
On the hourly chart, the price of DOGE is looking bearish as it is returning to the local support level of $0.08427.
If the situation does not change, one can expect a breakout followed by a blast to $0.08350.
A similar picture is on the daily time frame. Currently, one should pay attention to the $0.08392 level. If the candle closes below it, the drop may continue to a test of the $0.083 zone.
From the midterm point of view, the rate of DOGE is in the middle of the channel. If the weekly bar closes around the current prices, consolidation in the area of $0.083-$0.086 is the more likely scenario for next week.
DOGE is trading at $0.0845 at press time.
Yuri Molchan
Tomiwabold Olajide
