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A new week has begun with the bounce back of the market, according to CoinMarketCap.
DOGE/USD
DOGE is one of the biggest gainers today, rising by 7.6%.
On the hourly chart, the rate of DOGE has fixed above the local resistance of $0.2350. If bulls can hold the gained initiative and the bar closes around that mark or above, growth is likely to continue to the $0.24 zone.
On the longer time frame, the price of the meme coin is going up after yesterday's bullish closure.
If the situation does not change by the end of the day, one can expect a test of the resistance shortly.
From the midterm point of view, buyers are also more powerful than sellers. However, one should focus on the candle's closure in terms of the $0.2485 level. If it breaks out, growth is likely to continue to the $0.26-$0.28 range.
DOGE is trading at $0.2388 at press time.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team