Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

The bounce back has not lasted long, according to CoinMarketCap.

DOGE/USD

The rate of DOGE has declined by 0.16% over the last 24 hours.

On the hourly chart, the price of DOGE is trading below the local support level of $0.1926. If the situation does not change by the end of the day, the fall is likely to continue to the $0.1850 zone tomorrow.

On the daily time frame, the picture is also rather more bearish than bullish. If the bar closes below $0.19, traders may expect an ongoing correction to the $0.17-$0.18 area within the next few days.

From the midterm point of view, the rate of DOGE is in the middle of the channel, between the support of $0.17 and the resistance of $0.2288. 

As none of the sides has seized the initiative yet, ongoing sideways trading around $0.19 is the more likely scenario for the next week.

DOGE is trading at $0.1923 at press time.