Bears have seized the initiative at the beginning of the weekend, according to CoinStats.
DOGE chart by CoinStats
DOGE/USD
The rate of DOGE has gone down by 5.75% since yesterday.
Image by TradingView
Despite today’s fall, the price of DOGE has almost tested the local resistance of $0.1945. If buyers’ pressure continues, there is a chance of a level breakout, followed by a move to the $0.20 range.
Image by TradingView
On the bigger time frame, traders should pay attention to yesterday’s candle low.
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If a false breakout happens and the bar closes far from it, one may witness a bounce back to the $0.20-$0.21 area shortly.
Image by TradingView
From the midterm point of view, there are no reversal signals so far. If the weekly bar fixes below the $0.20 zone, the correction is likely to continue to the $0.16 mark.
DOGE is trading at $0.1912 at press time.
