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Most of the cryptocurrencies are in a neutral mode today, according to CoinStats.
DOGE/USD
Unlike most other coins, the rate of DOGE has gone up by 1.27% over the last 24 hours.
On the hourly chart, the price of DOGE is declining after a false breakout of the local resistance level of $0.2278. If bulls cannot seize the initiative, one can expect an ongoing drop to the $0.22 mark by tomorrow.
On the bigger time frame, none of the sides is dominating, as the rate of the meme coin is far from the key levels.
Thus, the volume is low, which means neither buyers nor sellers are ready for a sharp move. In this regard, the consolidation in the narrow range of $0.22-$0.23 is the more likely scenario.
From the midterm point of view, the picture is similar. Respectively, there are low chances of witnessing sharp ups or downs. All in all, one can expect sideways movement in the zone of $0.21-$0.24 in the next week.
DOGE is trading at $0.2248 at press time.
U.Today Editorial Team
Vladislav Sopov