Buyers have failed to seize the initiative, according to CoinStats.
DOGE/USD
The rate of DOGE has declined by almost 6% over the last day.
On the hourly chart, the price of DOGE is in the middle of the local channel, between the support of $0.1221 and the resistance of $0.1287.
As most part of the daily ATR has been passed, there are low chances to expect sharp moves soon.
The decline of DOGE has continued after yesterday’s bearish closure. As there are no reversal signals yet, traders may see an ongoing drop to the zone of $0.12 by the end of the week.
From the midterm point of view, buyers have failed to keep the rise going after the previous bullish candle’s closure. If nothing changes by the end of the week, the downward move may lead to a test of the $0.11-$0.12 area next month.
DOGE is trading at $0.1245 at press time.
