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DOGE Price Prediction for May 17

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Fri, 17/05/2024 - 16:21
DOGE Price Prediction for May 17
Cover image via U.Today

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DOGE/USD

The price of DOGE has risen by almost 1% over the last 24 hours.

Image by TradingView

On the hourly chart, the rate of DOGE is looking bullish as it is trying to return to the local resistance level of $0.1539. If buyers manage to do that, there is a chance to see a breakout, followed by a move to the $0.16 zone.

Image by TradingView

A less positive picture can be seen on the daily time frame. The rate is far from key levels, which means neither bulls nor bears are ready to make a sharp move. 

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In this case, ongoing sideways trading in the zone of $0.15-$0.16 is the more likely scenario until the end of the week.

Image by TradingView

A similar situation can be seen on the weekly chart. The price is in the middle of a wide range, between the support of $0.1225 and the resistance of $0.1690. All in all, one can expect consolidation around $0.15 until the end of the month.

DOGE is trading at $0.1526 at press time.

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