Today, most cryptocurrencies are showing negative trends again. Amid this, DOGE has experienced a significant drop.
Market Situation
Currently, the majority of cryptocurrencies are in the red zone, showing declining prices. The downturn has affected a significant number of digital assets.
DOGE Price Analysis
As of today, DOGE's price has decreased by 3.57%. On the hourly chart, a false breakout of the local resistance level at $0.1642 is observed. If the daily candle closes significantly below this level, a test of the support near $0.16 could occur in the coming days.
Future Forecast
From a midterm perspective, DOGE's price is breaking through the support at $0.1667. If bearish positions maintain their initiative, there is a high probability of further declines in the upcoming week. Currently, DOGE is trading at $0.1636.
Given the current situation in the market, further price declines for DOGE and other cryptocurrencies are anticipated. Investors are advised to exercise caution.
