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The market is mainly neutral on the first day of the weekend, according to CoinStats.
DOGE/USD
The price of DOGE has fallen by almost 2% since yesterday.
On the hourly chart, the rate of DOGE is looking bearish as it is near the local support of $0.2491.
If a bounce back does not happen, one can expect a level breakout, followed by an ongoing correction to the $0.2480 zone.
On the bigger time frame, the situation is also bearish. If the daily bar closes around the current prices or below, traders may witness a test of the $0.2450 range shortly.
From the midterm point of view, the picture is neutral as the rate of DOGE is in the middle of the channel between the support of $0.2058 and the resistance of $0.2929. As neither side is dominating, consolidation in the zone of $0.24-$0.27 is the more likely scenario.
DOGE is trading at $0.2497 at press time.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team