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Bulls seem unable to hold the initiative for long, according to CoinMarketCap.
DOGE/USD
DOGE is one of the biggest losers today, falling by 4.05%.
Despite the decline, the price of DOGE keeps looking bearish on the hourly chart. If the breakout of the local support of $0.1653 happens, the drop is likely to continue to the $0.16-$0.1650 zone soon.
On the bigger time frame, bulls have failed to keep growth going after yesterday's bullish closure.
Denys SerhiichukIf the candle closes around current prices, one can expect an ongoing decline to the $0.16 mark by the end of the week.
From the midterm point of view, the situation remains bearish. If the weekly bar closes with a long wick and closer to the support of $0.1481, traders may witness a test of the $0.14 area shortly.
DOGE is trading at $0.1662 at press time.
BTC
Vladislav Sopov
Dan Burgin