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The market keeps falling according to the CoinMarketCap ranking.
The rate of DOGE has fallen by 7.17% over the last 24 hours.
The price of DOGE is trading sideways on the hourly chart after the false breakout of the local resistance level at $0.09654.
There are low chances of seeing any sharp moves by the end of the day as most of the ATR has almost passed. In this case, consolidation around $0.095 is the more likely scenario.
On the daily time frame, the situation is bearish as the price has returned to the bearish channel. If the candle fixes below $0.09520, the fall may continue to the nearest support zone of $0.09. Such a scenario is relevant until the end of the month.
On the weekly chart, it is too early to make any predictions as today is only Monday. However, one should pay attention to the peak of the last candle at $0.09150. If the rate makes a false breakout of it, DOGE might have chances for a midterm bull run.
DOGE is trading at $0.09357 at press time.
Compiled by Metacrunch. Metacrunch is a news complier and aggregator platform which aims to spread awareness and updates on Metaverse, Web 3.0 Technology, Blockchain, Cryptocurrency, NFTs, Airdrops and many more.
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