As a seasoned analyst with over a decade of experience in the volatile world of cryptocurrencies, I have learned to navigate the market’s unpredictable waves with a cautious optimism. Today, while analyzing the DOGE/USD pair, I find myself intrigued by its current stance.
There is no one-way trend on the crypto market today, according to CoinMarketCap.
DOGE/USD
The rate of DOGE has fallen by 0.18% over the last 24 hours.
Although the price of DOGE has dropped today, there’s a positive outlook on the hourly chart. If the current resistance level of $0.3894 gets breached and the day ends with the price above it, we could see further growth towards the $0.40 range by tomorrow.
Over a larger time period, the momentum of the meme coin continues to build, preparing for potential future growth. The trading activity is relatively light, indicating neither side has sufficient strength to take control.
In this regard, sideways trading in the zone of $0.38-$0.40 is the more likely scenario.
Looking at the midpoint of the weekly candlestick, it’s important to focus on its closing peak. If this peak is accompanied by a large wick, there could be an indication that the price may correct towards the $0.32 – $0.34 range.
DOGE is trading at $0.3889 at press time.
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2024-11-21 17:33