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Bulls are not going to give up, according to CoinStats.
DOGE/USD
DOGE is one of the biggest gainers today, rocketing by 17.64%.
On the hourly chart, the price of DOGE has set a local resistance of $0.2045. Currently, traders should pay attention to the daily bar closure. If the rate comes back to that mark, the growth may continue to the $0.21 zone and above.
On the daily time frame, the candle is about to close with a long wick, which is a bearish signal. If that happens, one can expect a local correction to the $0.15-$0.16 zone within the next few days.
From the midterm point of view, it is too early to make any distant predictions as a few days remain until the bar's closure. However, if the price cannot fix above the vital area of $0.20, bears may seize the initiative that can lead to a drop to $0.16.
DOGE is trading at $0.1862 at press time.
Yuri Molchan
Dan Burgin
Alex Dovbnya
Vladislav Sopov