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.
Bears are back in the game, according to the CoinMarketCap ranking.
DOGE has followed the drop of most other coins, declining by 2.15%.
On the local chart, DOGE has started to fall from the resistance level at $0.08840. At the moment, one should pay attention to the formed support at $0.08546. If the candle closes near it, the drop may continue to the $0.08450 zone soon.
On the daily chart, DOGE is looking bearish as the price is trading near the support at $0.08559. The price could not rise after the false breakout of the level, which means that a further drop to the area of $0.084 could occur until the end of the week.
On the weekly time frame, the situation is also rather bearish than bullish as the price is currently located closer to the support than to the resistance. If the fall continues to the $0.082 mark, traders may expect the price of DOGE at the vital zone of $0.080 within the next few days.
DOGE is trading at $0.08607 at press time.