Bulls might need more time to accumulate energy for a continued upward move, according to CoinStats.
DOGE/USD
The rate of DOGE has fallen by 4.48% over the past day.
On the hourly chart, the price of DOGE is near the local support of $0.1948. If a bounce back does not occur until the end of the day, traders may witness a level breakout, followed by a test of the $0.19 mark.
On the longer time frame, a further correction remains the most likely scenario. The volume is low, which means traders are unlikely to see sharp moves anytime soon.
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In this regard, there is a high possibility of seeing a decline to the $0.18 range.
From the midterm point of view, the rate of DOGE is far from key support and resistance levels. In this case, one should focus on the interim zone of $0.19. If the weekly bar closes below that mark, the drop may continue to the $0.15-$0.17 zone.
DOGE is trading at $0.1954 at press time.