The market is mainly neutral on the first day of the weekend, according to CoinStats.
DOGE chart by CoinStats
DOGE/USD
The price of DOGE has fallen by almost 2% since yesterday.
Image by TradingView
On the hourly chart, the rate of DOGE is looking bearish as it is near the local support of $0.2491.
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If a bounce back does not happen, one can expect a level breakout, followed by an ongoing correction to the $0.2480 zone.
Image by TradingView
On the bigger time frame, the situation is also bearish. If the daily bar closes around the current prices or below, traders may witness a test of the $0.2450 range shortly.
Image by TradingView
From the midterm point of view, the picture is neutral as the rate of DOGE is in the middle of the channel between the support of $0.2058 and the resistance of $0.2929. As neither side is dominating, consolidation in the zone of $0.24-$0.27 is the more likely scenario.
DOGE is trading at $0.2497 at press time.
