There is no general trend on the cryptocurrency market today, according to CoinStats.
DOGE/USD
The price of DOGE has fallen by 1.69% since yesterday.
Despite today’s decline, the rate of DOGE is looking bullish on the hourly chart. If the daily candle closes near the local resistance of $0.07834, the upward move may continue to the $0.079 area tomorrow.
On the bigger time frame, the price of DOGE is in the middle of a wide channel, which means that neither bulls nor bears have seized the initiative yet.
In this case, sideways trading in the area of $0.075-$0.08 is the more likely scenario for the next few days.
From the midterm point of view, it is too early to make any predictions as too many days remain until the bar’s closure. However, if that happens below $0.08, traders can expect a further drop to $0.075 and below.
DOGE is trading at $0.07768 at press time.
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