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Sellers keep controlling the initiative on the last day of the week, according to CoinMarketCap.
DOGE/USD
The price of DOGE has fallen by 1.63% over the last day.
On the hourly chart, the rate of DOGE is returning to the local support of $0.2258. If a breakout happens, the decline is likely to continue to the $0.2250 zone by tomorrow.
On the bigger time frame, the situation is similar.
The rate of DOGE is closer to the support than to the resistance level. If buyers cannot seize the initiative, traders may witness a breakout, followed by an ongoing drop to the $0.21-$0.2150 range.
From the midterm point of view, the price of the meme coin keeps going down after a false breakout of the resistance of $0.2929. If the weekly bar closes with a short wick, there is a high chance of a test of the $0.20 zone soon.
DOGE is trading at $0.2261 at press time.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team