Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
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.
Yuri Molchan
Tomiwabold Olajide
