As a seasoned market analyst with over a decade of experience under my belt, I’ve seen trends come and go like the changing tides. Looking at Dogecoin (DOGE) today, it seems we’re in for a bit of a rollercoaster ride, but nothing too drastic.
Based on CoinMarketCap’s analysis, the overall market trend leans towards optimism (bullish), but there are certain instances that deviate from this general rule.
DOGE/USD
The rate of DOGE has dropped by 0.86% over the last 24 hours.
On an hourly basis, Dogecoin’s price is close to its nearby supportive level at around $0.4101. If the daily closing price hovers around this point or drops lower, it suggests that the current correction could extend towards the $0.40 region shortly.
Over a longer period, neither the bulls nor the bears seem to be in control. This suggests that significant price swings may not occur for some time.
All in all, ongoing sideways trading in the zone of $0.39-$0.45 is the more likely scenario.
Looking from a midterm perspective, the situation remains quite consistent. Consequently, the trend continues to decrease, indicating that neither side has built up enough power yet to take control. In summary, traders might observe a period of consolidation in the range between $0.35 and $0.45 for the coming weeks.
DOGE is trading at $0.4123 at press time.
Read More
- EUR MYR PREDICTION
- VANRY PREDICTION. VANRY cryptocurrency
- XRP PREDICTION. XRP cryptocurrency
- USD MXN PREDICTION
- OKB PREDICTION. OKB cryptocurrency
- BTC PREDICTION. BTC cryptocurrency
- LUNC PREDICTION. LUNC cryptocurrency
- EUR CAD PREDICTION
- GBP RUB PREDICTION
- USD BRL PREDICTION
2024-12-04 18:02