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Buyers are not ready yet to seize the initiative at the moment, according to CoinStats.
DOGE/USD
The rate of DOGE has dropped by 12% since yesterday.
On the hourly chart, the price of DOGE has made a false breakout of the local support of $0.1878. However, if the bounce back does not happen by the end of the day, traders may witness a test of the $0.1850 area shortly.
On the bigger time frame, there are no reversal signals so far.
Denys SerhiichukIf the correction continues to the nearest support level, there is a chance to see a breakout, followed by a further decline to the $0.16 mark.
From the midterm point of view, the rate of DOGE is on its way to the $0.1750 level. If buyers cannot seize the initiative, we might witness a test of the $0.15 range soon.
DOGE is trading at $0.1896 at press time.
Dan Burgin
Vladislav Sopov