The start of the weekend has been unfavorable for most cryptocurrencies, with DOGE being no exception. The price of this meme token continues to trend downwards.
Current DOGE Metrics
In the past 24 hours, the price of DOGE has decreased by 1.78% and is currently trading at $0.1638.
Support and Resistance Levels
On the hourly chart, the price of DOGE is moving within a narrow range, bounded by support at $0.1627 and resistance at $0.1649. If selling pressure continues, traders may see a test of the $0.1620 zone.
Future Forecast
On a longer time frame, DOGE is falling after a false breakout of resistance at $0.1726. If bullish sentiment does not return, further decline towards the support at $0.15 is likely. It is anticipated that, should price stability be maintained by the end of the week, DOGE will trade sideways in the range of $0.16-$0.18.
In light of the current selling pressure, DOGE may face further declines. Traders and investors continue to monitor price dynamics and support levels.
