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Bulls are controlling the situation on the market at the end of the week, according to CoinStats.
DOGE/USD
The rate of DOGE has risen by 0.88% since yesterday. Over the last week, the price has risen by 5.24%.
On the hourly chart, the price of DOGE has made a false breakout of the formed resistance of $0.1650. However, if the daily bar closes above that mark, there is a chance of a test of the $0.1680 zone.
On the bigger time frame, the rate of DOGE is on the way to the $0.1677 level. However, traders should pay attention to the candle closure in terms of yesterday’s bar high.
If it happens above $0.1650, there is a high possibility to witness a test of the resistance.
From the midterm point of view, the price of the meme coin is within the previous weekly bar. The volume is going down, which means neither side is ready to seize the initiative. All in all, sideways trading around the current prices is the more likely scenario.
DOGE is trading at $0.1647 at press time.
Vladislav Sopov
U.Today Editorial Team