As a seasoned researcher with extensive experience in the crypto market, I’ve seen my fair share of ups and downs, bull runs, and bear markets. Today, looking at the DOGE/USD pair, it seems we’re witnessing another correction, with the rate dropping by 3.11% over the past day.
Buyers are still unable to seize the initiative, according to CoinMarketCap.
DOGE/USD
The rate of DOGE has dropped by 3.11% over the past day.
Regardless of today’s drop, we haven’t seen any indicators pointing towards a reversal just yet. The Dogecoin price seems to be heading back towards its current support level at approximately $0.1035.
If it breaks out, the correction may continue to the $0.1010-$0.1020 zone soon.
On a day-by-day basis, the chart shows signs of pessimism. If today’s candle ends near or below the current levels, it might lead us to retest the crucial level of $0.10 in the coming days.
As an analyst, I’ve noticed that the bulls haven’t been able to sustain the momentum following the close of the last bullish bar. If this downtrend persists until the end of the trading week, there’s a possibility that traders might encounter a test at the $0.09 level.
DOGE is trading at $0.1033 at press time.
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2024-08-27 18:18