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The correction has started for most of the coins, according to CoinMarketCap.
DOGE/USD
DOGE is one of the biggest losers today, going down by 4.78%.
On the hourly chart, the rate of DOGE is falling after setting a local resistance of $0.2749. If buyers cannot seize the initiative soon, one can expect a support breakout, followed by a test of the $0.25 mark.
On the longer time frame, the price of DOGE is declining after a false breakout of the $0.2783 level.
If the candle closes near its low, the correction is likely to continue to the $0.24-$0.25 range soon.
From the midterm point of view, the picture is similar. If the weekly bar closes far from that mark, bears may come back to the game, which may lead to a drop to the $0.24 range.
DOGE is trading at $0.2625 at press time.
Vladislav Sopov
U.Today Editorial Team