Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Bear are not ready yet to seize the initiative, according to CoinStats.
DOGE/USD
DOGE is one of the biggest gainers today, rising by 5.46%.
On the hourly chart, the rate of DOGE is going down after a false breakout of the local resistance of $0.2588. If the fall continues, one can expect a test of the $0.25 area soon.
On the longer time frame, the situation is reversed. The price of the meme coin is growing after a resistance breakout of $0.2438. If bulls can hold the initiative, an upward move is likely to continue to the $0.27 range.
From the midterm point of view, the rate of DOGE is far from the support and resistance levels. In this case, there are low chances of seeing sharp moves anytime soon.
All in all, consolidation in the area of $0.24-$0.27 is the most likely scenario.
DOGE is trading at $0.2562 at press time.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team