Denys Serhiichuk
Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.
Bulls are back in the game, according to the CoinMarketCap ranking.
DOGE/USD
The rate of DOGE has risen by 3.26% over the last 24 hours.
On the local time frame, the price has come back to the support level at $0.07281. If buyers cannot seize the initiative and the candle closes near that mark, there is a possibility to see a breakout, followed by a drop to the $0.071 zone shortly.
On the daily chart, today’s growth has not affected the technical position of DOGE as the rate keeps trading in the middle of the channel. One can think about further growth only if the price reaches the $0.077 mark and fixes above it.
A similar situation can be seen on the weekly time frame. The volume keeps declining, so neither buyers nor sellers accumulated enough strength for the further move.
All in all, sideways trading in the area of $0.07-$0.075 is the more likely scenario until the end of the month.
DOGE is trading at $0.07325 at press time.
