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Bears have seized the initiative on the market, according to CoinMarketCap.
DOGE/USD
DOGE is one of the biggest losers today, falling by almost 12% since yesterday.
On the hourly chart, the rate of DOGE has made a false breakout of the local support of $0.3404.
Denys SerhiichukIf the daily bar closes far from that mark, one can expect a test of the resistance level of $0.3547 by tomorrow.
On the bigger time frame, one should pay attention to the interim zone of $0.3359. If its breakout occurs, the accumulated energy might be enough for a move to the $0.32 zone shortly.
From the midterm point of view, buyers have failed to maintain its growth after the previous bullish candle's closure. If the situation does not change by the end of the day, there is a possibility of seeing a test of the $0.30 range soon.
DOGE is trading at $0.3481 at press time.
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.
Godfrey Benjamin
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