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Some cryptocurrencies have already entered a correction phase, according to CoinMarketCap.

DOGE/USD

The rate of DOGE has fallen by 6.66% over the last 24 hours.

On the hourly chart, the price of DOGE might have found a local support level of $0.3512. If growth continues, one can expect a test of the resistance of $0.4160 by the end of the day.

On the bigger time frame, the rate of DOGE is trading within the yesterday's daily candle. If the situation does not change by the end of the day, sideways trading in the zone of $0.32-$0.42 is the most likely scenario.

From the midterm point of view, it is too early to make any distant predictions as only a few days remain until the bar's closure.

However, if it happens above the vital zone of $0.40 and near $0.4385, there is a chance to see a level breakout, followed by a test of the $0.45-$0.50 area.

DOGE is trading at $0.3796 at press time.