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Bears are controlling the situation on the market today, according to CoinStats.
DOGE/USD
The price of DOGE has declined by 3.88% over the last day.
On the hourly chart, the rate of DOGE is going up after a false breakout of the local support of $0.2142.
If growth continues, traders may expect a test of the $0.23 area soon.
A less bullish picture can be seen on the bigger time frame. If today's bar closes near yesterday's candle's low, the correction is likely to continue to the nearest support of $0.2058.
From the midterm point of view, the rate of DOGE is trading within the previous candle. If the bar closes around current prices, sideways trading in the range of $0.21-$0.23 is the most likely scenario.
DOGE is trading at $0.2218 at press time.
Vladislav Sopov
U.Today Editorial Team