As a seasoned researcher with years of experience in the volatile world of cryptocurrencies, I find myself constantly on the lookout for trends and patterns that might indicate potential shifts in the market. Today, I’m keeping a close eye on DOGE/USD, which seems to be taking a tumble, down by 4.56%.
Most coins from the top 10 list are facing a correction, according to CoinMarketCap.
DOGE/USD
DOGE is one of the biggest losers today, falling by 4.56%.
According to the hourly chart, Dogecoin’s trading rate is close to its current local support level at around $0.1206. If there’s no rebound before the end of today, it seems likely that we may see a test of the $0.12 area tomorrow.
Looking at a larger perspective, the bulls haven’t been able to sustain yesterday’s gains. If today’s trading ends near current levels, traders might observe a potential decline towards the $0.115 region before the week is over.
Looking at the halfway mark, neither side appears to have taken control, leaving the situation balanced. At present, it’s unlikely we’ll witness any significant changes or decisive actions in the near future.
All in all, sideways trading in the zone of $0.11-$0.13 is the more likely scenario.
DOGE is trading at $0.1206 at press time.
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2024-10-17 18:52