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The market is back to red at the beginning of the week, according to CoinStats.
DOGE/USD
DOGE is the biggest loser today, going down by almost 10%.
On the hourly chart, the rate of DOGE is coming back to the local support of $0.2306. If buyers cannot seize the initiative, there is a high chance of seeing a level breakout, followed by an ongoing correction.
On the longer time frame, traders should focus on the daily candle's closure in terms of the $0.2335 level.
If it happens around that mark or below, it is likely to drop to the $0.22-$0.23 zone.
A less clear picture is seen on the weekly chart. The rate of the meme coin is far from the main levels, which means there are low chances of seeing sharp moves by the end of the month.
DOGE is trading at $0.2396 at press time.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team