As the week concludes, the cryptocurrency market is showing negative dynamics. The most significant decline is observed in DOGE, which is losing its positions.
Market Overview
The cryptocurrency market is ending this week in the red zone, indicating a decline in prices for most digital assets. Investor sentiment remains concerned about the current market situation.
DOGE/USD Analysis
DOGE is one of today's biggest losers, showing a decline of 7.26%. On the hourly chart, the DOGE rate is near local resistance after a false breakout of the $0.2033 support level. If the daily bar closes around this level or above, an upward move to the $0.2150 zone may continue. On a longer time frame, the picture appears less bullish. The price of the meme coin remains close to the $0.2066 support. Trading volume remains low, indicating that traders are unlikely to witness increased volatility by the end of the week.
Forecasts and Possible Scenarios
From a midterm perspective, there are no reversal signals yet. If bulls lose the $0.20 mark, the correction is likely to continue to the $0.18 mark. As of now, DOGE is trading at $0.2094.
Overall, the market shows uncertain trends, and DOGE continues to lose ground. Investors are waiting for clearer signals for decision-making.
