Can traders expect local growth from DOGE shortly?bonus calculator stake Advertisement

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Bears have started to recover the initiative on the market, according to CoinMarketCap.

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DOGE/USD

The price of DOGE has dropped by 2.46% over the last day.

On the hourly chart, the rate of DOGE is falling after a breakout of the local support of $0.1575. If the daily bar closes below that mark, the decline is likely to continue to the $0.1530 area soon.

A bearish picture can also be seen on the bigger time frame. If the candle fixes below the $0.1577 level, the correction is likely to continue to the $0.15 range. Such a scenario is relevant until the end of the week.

From the midterm point of view, bulls have failed to keep the growth going after the weekly bar's closure.

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If the candle closes around the current prices or below, the correction is likely to continue to the $0.1450-$0.15 area shortly.

DOGE is trading at $0.1575 at press time.