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The market remains green on the last working day of the week.
The rate of DOGE has risen by 2.55% since yesterday.
Despite today’s rise, the price of DOGE is on its way to the local support level at $0.08812. If buyers cannot seize the initiative, the channel breakout might be a prerequisite for an ongoing decline to the $0.087 zone.
On the daily time frame, the price of DOGE has bounced off the mirror level that serves the resistance at $0.09093. If the candle closure happens far from that mark, there is a chance to see sideways trading in the range of $0.086-$0.088 so the meme coin can gain more strenght for a further upward move.
On the weekly chart, the rate of DOGE is not falling after a false breakout of the resistance at $0.09980. It means that bears have not seized the initiative yet. However, it is too early to think about further growth.
All in all, consolidation in the area of $0.085-$0.095 is the more likely scenario for the next few weeks. Thus, the low volume confirms the absence of strong buyers or sellers on the market.
DOGE is trading at $0.08891 at press time.
With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at firstname.lastname@example.org.
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Disclaimer: The opinions expressed here are not investment advice; they are provided for informational purposes only. The opinions expressed by our writers are their own and do not represent the views of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. We do not recommend investing money you cannot afford to lose.