The market is back to red again, according to CoinStats.
DOGE chart by CoinStats
DOGE/USD
The rate of DOGE has fallen by 4.63% over the last 24 hours.
Image by TradingView
On the hourly chart, the price of DOGE is far from the local support and resistance levels.
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As most of the daily ATR has passed, there are low chances of seeing sharp moves by tomorrow.
Image by TradingView
On the longer time frame, the rate of DOGE has made a false breakout of the support level of $0.2265. However, one should focus on the daily candle’s closure in terms of that mark. If a bounce back does not happen, the fall may continue to the $0.21-$0.22 range by the end of the week.
Image by TradingView
From the midterm point of view, the situation is also rather more bearish than bullish. The price of the meme coin keeps going down after a false breakout of the resistance of $0.2929. As there are no reversal signals yet, an ongoing decline is the most likely scenario.
DOGE is trading at $0.2317 at press time.
