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DOGE Price Prediction for May 5

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Sun, 5/05/2024 - 15:40
DOGE Price Prediction for May 5
Cover image via www.tradingview.com

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Some coins keep trading in the green zone, while the rates of others are falling, according to CoinStats.

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DOGE chart by CoinStats

DOGE/USD

The price of DOGE has declined by 2.54% over the last 24 hours.

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Image by TradingView

Despite today's drop, the rate of DOGE is looking bullish on the hourly chart as it is about to return to the recently formed resistance of $0.1627.

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If buyers can hold the gained initiative until the end of the day, one can expect a breakout followed by a move to $0.1650.

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Image by TradingView

A less positive picture is on the daily time frame as the price is far from the key levels. However, if the rate returns to the $0.1690 level, the growth may continue to the $0.18 zone.

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Image by TradingView

On the weekly chart, the situation is similar, but the rate of DOGE might need more time to get energy for a further sharp move due to low volume. In this regard, an ongoing consolidation in the zone of $0.1550-$0.1650 is the more likely scenario for the next days.

DOGE is trading at $0.1607 at press time.

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