More cryptocurrencies are in the red zone today compared to yesterday, according to CoinStats.
DOGE/USD
The price of DOGE has dropped by 0.84% over the last day.
On the hourly chart, the rate of DOGE is approaching the local support of $0.1635. If it breaks out, the fall is likely to continue to the $0.16 range. Such a scenario is relevant until tomorrow.
On the bigger time frame, the price of the meme coin has made a false breakout of the formed resistance of $0.1677.
If the daily bar closes far from that mark and with a long wick, the decline may continue to the $0.1550-$0.16 zone.
From the midterm point of view, the price of DOGE is rising after a bounce back from the support of $0.1411. However, there are low chances of seeing a sharp rise as not enough energy has been accumulated yet. In this case, sideways trading in the range of $0.16-$0.18 is the most likely scenario.
DOGE is trading at $0.1645 at press time.
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