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The market is neither bullish nor bearish in the middle of the week, according to CoinStats.
DOGE/USD
The price of DOGE is unchanged since yesterday.
On the hourly chart, the rate of DOGE is in the middle of the local channel, between the support of $0.2638 and the resistance of $0.2713. However, if bears' pressure continues, there is a high chance of witnessing a test of the $0.2630 mark soon.
From the midterm point of view, none of the sides is controlling the market situation. The volume is low, confirming the absence of buyers and sellers' strength.
All in all, consolidation in the range of $0.2650-$0.2750 is the most likely scenario until the end of the week.
From the midterm point of view, the picture is more bullish as the rate of DOGE is close to the resistance level of $0.2929. If a breakout of the $0.30 mark happens, the accumulated energy might be enough for a continued upward move to the $0.35 area.
DOGE is trading at $0.2667 at press time.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team