Bulls are back in the game after a correction, according to CoinMarketCap.
DOGE/USD
DOGE is one of the biggest gainers today, rising by 3.75%.
On the hourly chart, the rate of DOGE is going down after a false breakout of the local resistance at $0.1273. If the drop continues, one can expect a test of the $0.1250 zone by tomorrow.
On the longer time frame, one should focus on the daily bar’s closure in terms of the nearest level at $0.1279. If it breaks out, the accumulated energy might be enough for an ongoing rise to the $0.13 area.
From the midterm point of view, the situation is less positive for buyers. The rate of DOGE is near the support level, which means sellers’ pressure remains relevant.
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As none of the sides is dominating, sideways trading in the range of $0.12-$0.13 is the most likely scenario.
DOGE is trading at $0.1263 at press time.