Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.
The first day of the weekend has turned out to be bearish for most of the coins.
DOGE has lost the most value today, falling by 5.66%.
Despite the sharp decline, the price of DOGE is approaching the local resistance at $0.07936.
If buyers can hold the gained initiative, there is a chance to see a breakout followed by a further rise to the $0.080 area and above.
On the daily time frame, there are no signals for a reversal yet. At the moment, traders should focus on the $0.08 zone. If bulls cannot restore the price above it shortly, the fall may continue to the support at $0.06393.
On the weekly chart, the price of DOGE has continued to drop after the false breakout of the resistance at $0.0998. However, the rate is far from the key levels, which means that sideways trading in the wide range of $0.07-$0.09 is the more likely scenario until mid-May.
DOGE is trading at $0.07929 at press time.