Bears have returned to the game, as the prices of most of the coins are again in the red area.
The rate of
On the hourly chart, the price of DOGE has fixed below the local support level of $0.06176. If buyers cannot return the rate above that mark by the end of the day, the fall may continue to the $0.061 area tomorrow.
On the bigger time frame, the rate of DOGE has once again bounced off the resistance level, which means that bears remain more powerful than bulls.
Thus, today’s bar is about to close without a long wick, which means that there is a high chance of seeing an ongoing drop soon. If that happens, traders are likely to see the test of the $0.060 zone soon.
From the midterm point of view, the rate of DOGE has made a false breakout of the previous bar’s low. At the moment, one should focus on the candle closure. If it happens far from the $0.05938 level, one can expect a local rise to the resistance by the end of the month.
DOGE is trading at $0.06150 at press time.