The cryptocurrency markets are witnessing a slight rise in DOGE's price, despite a weekly price decline. Let’s examine the current data and short-term forecasts.
Changes in DOGE Price for the Day
The price of DOGE increased by 0.48% over the past 24 hours, yet it has faced a 5.58% decline over the week.
Current Support and Resistance Levels
On the hourly chart, DOGE’s price is approaching the local support level of $0.2159. If bulls fail to seize the initiative by the end of the day, a breakout could occur with a correction to $0.2150. On a larger time frame, the support level is at $0.2074. A daily candle close below this mark may lead to a test of the $0.20 range.
Price Movement Prospects for DOGE
From a mid-term perspective, the situation is less clear. The price of DOGE is in the middle of the channel between support at $0.1884 and resistance at $0.2867. With neither side dominating, sharp moves are unlikely in the near term. Currently, DOGE is trading at $0.2173.
At this moment, DOGE is showing stabilization within a range, with key support and resistance levels potentially playing a critical role in further price dynamics.
