Recent changes in the cryptocurrency market have led to price increases for many assets, including DOGE.
Market Growth
The cryptocurrency market has quickly shifted to a positive direction, giving many assets a chance for recovery. According to CoinMarketCap, today many cryptocurrencies have shown growth.
DOGE Analysis
DOGE has emerged as one of the biggest gainers today, rising by 4.87%. On the hourly chart, the rate of DOGE is in the middle of the local channel, between the support at $0.2163 and the resistance at $0.2232. Weak dominance from either side indicates low chances of sharp moves until tomorrow. However, the longer-term outlook remains bearish.
Future Predictions
If bearish pressure continues and a breakout of the lower level occurs, a test of the $0.19-$0.20 range is expected by the end of the week. From a midterm perspective, the picture looks neutral as the rate of DOGE is far from major levels, and traders should pay attention to the interim zone of $0.20. If the bar closes below this level, it may signal a move towards the $0.16 mark.
Thus, the cryptocurrency market demonstrates positive signals with price increases for DOGE, but investors should remain vigilant regarding future movements.
