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Bears have turned out to be more powerful than bulls on the last day of the week, according to CoinMarketCap.

DOGE/USD

The rate of DOGE has declined by 11.78% since yesterday. Over the last week, the price has risen by 13.58%.

On the hourly chart, the price of DOGE remains bearish as it is near the local support of $0.3951. If the daily bar closes around $0.40 or below, one can expect a level breakout, followed by a move to the $0.39 zone.

On the bigger time frame, the rate of DOGE has once again bounced off the resistance of $0.4385.

If the decline continues until the end of the day, traders may witness a test of the $0.36-$0.38 range next week.

From the midterm point of view, one should pay attention to the weekly candle closure in terms of the resistance of $0.4385, If it happens far from that mark, sellers may seize the initiative, which might lead to a drop to the $0.35 mark.

DOGE is trading at $0.4092 at press time.