Sellers’ pressure remains relevant, according to CoinMarketCap. 📉
DOGE/USD
In the latest plot twist, the rate of DOGE has declined by 1.78% over the last day. Apparently, DOGE and the stock market have something in common – they both like to make us cry. 😢
On the hourly chart, the price of DOGE is falling faster than my hopes for fitting into my New Year’s resolutions after a false breakout of the local resistance of $0.3327. If bears’ pressure continues (and let’s face it, they probably will), one can expect a test of the support level of $0.3161 by tomorrow. 🐻
On the bigger time frame, the situation is also bearish. The daily bar is about to close far from its peak. In other words, things aren’t looking up. 📉
If nothing changes, traders may witness an ongoing decline to the support of $0.30 by the end of the week. So go ahead, start the countdown to your inevitable disappointment. 🕰️
From the midterm point of view, it is too early to make any distant predictions. However, if the weekly bar closes near the vital zone of $0.30, the accumulated energy might be enough for a move to the next level of $0.2724. So, fingers crossed, everyone! 🤞
As of now, DOGE is trading at $0.3232.
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2025-01-29 18:47