DOGE Price Analysis for January 19

DOGE Price Analysis for January 19
Cover image via www.tradingview.com

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The correction continues on the cryptocurrency market, according to CoinMarketCap.

Top coins by CoinMarketCap

DOGE/USD

The price of DOGE has declined by 2.13% over the last 24 hours.

Image by TradingView

On the hourly chart, the rate of DOGE has bounced off the local resistance level of $0.07863. If the fall continues, one can expect a test of the $0.07750 mark tomorrow.

Image by TradingView

On the bigger time frame, the price has made a false breakout of yesterday’s low at $0.07690. At the moment, one should pay attention to the candle’s closure. 

If it happens far from that level, buyers have the chance to locally seize the initiative.

Image by TradingView

From the midterm point of view, the situation is more bearish than bullish as the rate is near the support level of $0.075. If the weekly bar closes near it, the accumulated energy might be enough for a breakout, followed by a move to the $0.07 zone.

DOGE is trading at $0.0778 at press time.

Source: https://u.today/doge-price-analysis-for-january-19