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The last day of the week is more bearish than bullish, according to CoinMarketCap.
DOGE/USD
The rate of DOGE has declined by 1.03% since yesterday. Over the last week, the price has fallen by 5.22%.
On the hourly chart, the price of DOGE is in the middle of the local channel. However, bulls may seize the initiative if they return to the $0.16 mark.
Denys SerhiichukIf that happens, there is a chance of a resistance breakout, followed by a move to the $0.1620 zone.
On the bigger time frame, the rate is far from the key levels, which means neither bulls nor bears are dominating at the moment. In this case, sideways trading between $0.1550-$0.1650 remains the more likely scenario.
From the midterm point of view, the picture is quite similar. A bullish trend reversal might only be possible if bulls fix above the $0.17 area. Until it happens, traders are unlikely to see sharp moves from DOGE.
DOGE is trading at $0.1590 at press time.
Alex Dovbnya
Vladislav Sopov
Dan Burgin