The price of DOGE has remained stable despite changes in other cryptocurrencies on the market. This article provides an analysis of the current situation and forecasts for the short and mid-term outlook.
Current Situation
On the hourly chart, the rate of DOGE is near the local support of $0.1041. If the daily bar closes around that mark, the fall is likely to continue to the $0.1030 zone in the near future.
Short-term Forecast
On the bigger time frame, the situation remains the same, as none of the sides has seized the initiative yet. In the coming days, ongoing sideways trading in the area of $0.1040-$0.11 is the more likely scenario.
Mid-term Outlook
From a midterm perspective, one should wait until the weekly bar closes. If it happens near the previous candle's peak or above, the accumulated energy might be enough for a test of the resistance of $0.11099.
DOGE is currently trading at $0.1052. Investors and traders should monitor the weekly candle's closure to assess possible future price movements.
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