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A correction has started on the cryptocurrency market, according to CoinMarketCap.
DOGE/USD
The rate of DOGE has declined by almost 5% over the last 24 hours.
On the hourly chart, the price of DOGE is in the middle of the local channel, between the support of $0.08234 and the resistance of $0.08470. As most of the daily ATR has been passed, there are low chances to see any sharp moves today.
On the bigger time frame, the situation is more bearish. At the moment, one should pay attention to the candle's closure in terms of yesterday's bar's low. If it happens near it or even below, the correction may continue to the $0.080 area.
On the weekly chart, the rate of DOGE has made a false breakout of the resistance of $0.09058. If the bar closes around the current prices, there is a chance to see a test of the $0.078-$0.080 zone by the end of the month.
DOGE is trading at $0.08316 at press time.
Arman Shirinyan
Alex Dovbnya
Dan Burgin