Dogecoin (DOGE) continues to capture the attention of analysts and investors. Its price has dropped by 6.66% in the last 24 hours, raising questions about its future movement.
Current Market Situation
Currently, DOGE is traded at $0.3796 with a 6.66% drop over the last 24 hours. This indicates a correction phase observed in many cryptocurrencies according to CoinMarketCap.
Short-term Forecast
On the hourly chart, DOGE might have found support at $0.3512. If the price increases, traders might expect a test of the $0.4160 resistance level by the end of the day. However, sideways trading between $0.32 and $0.42 is more likely if the situation does not change.
Mid-term Outlook
From a mid-term perspective, it's too early to make precise predictions. However, if the price closes above $0.40, it might lead to a level breakout and a test of the $0.45-$0.50 range.
In the coming days, DOGE might experience volatility. Investors and traders should watch the $0.40 level for hints of potential upward movement.
