The correction continues on the cryptocurrency market, according to CoinMarketCap.
DOGE/USD
The price of DOGE has declined by 2.13% over the last 24 hours.
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.
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.
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.