The cryptocurrency market is showing signs of change on this week’s final trading day. Notably, DOGE's price has decreased despite a weekly gain.
Current DOGE Price
As of this report, DOGE is trading at $0.20, marking a decrease of 2.27% over the last 24 hours. However, there has been a notable rise of 20% over the past week.
Short-term Forecast
On the hourly chart, the price of DOGE is near local support after a false breakout of the $0.1998 resistance. If the situation remains unchanged by day’s end, a continuation of the correction followed by a drop to $0.1950 can be expected.
Long-term Outlook for DOGE
From a broader perspective, it is important to focus on the daily bar closure in relation to the nearest level at $0.20672. Should a breakout occur, the accumulated energy might suffice for a move towards the $0.21-$0.22 range. In the midterm, DOGE is again testing the $0.20 level. A weekly close above this level without a long wick would likely indicate continued growth towards $0.22.
The current price fluctuations of DOGE reflect overall market uncertainty. Investors should closely monitor key support and resistance levels.
