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 year 2023 has started with a market fall, based on CoinMarketCap’s ranking.
DOGE/USD
DOGE is looking worse than other coins on the list, having gone down by 0.63%.
On the hourly chart, DOGE started the day with a rise from the support at $0.06906. However, the growth was stopped at the resistance at $0.06970 formed by the false breakout.
If the rate returns to the upper mark, traders may see a test of the $0.07 zone shortly.
On the daily time frame, the price is trading sideways as DOGE has not accumulated enough for a sharp move yet. This statement is also confirmed by the low volume. All in all, the more likely scenario is trading in the range of $0.069-$0.07 next week.
From the midterm point of view, the rate of DOGE is about to close below the recently formed support level at $0.06997. If buyers fail to seize the initiative by the end of the day, the drop may continue to the $0.064 area.
DOGE is trading at $0.06956 at press time.
