Cryptocurrency Market Update

There are no reversal signals on the cryptocurrency market so far, according to CoinStats.

DOGE/USD

The price of DOGE has declined by 10.46% over the last day.

On the hourly chart, the rate of DOGE is heading back to the local support of $0.1972. If bear pressure continues, one can expect a test of the $0.19-$0.1950 zone soon.

On the bigger time frame, traders should pay attention to the candle’s closure in terms of the $0.20377 level. If it closes around it or below, there may be enough energy for a further decline to the support of $0.1750.

On the weekly chart, there are no reversal signals so far. If the bar closes below $0.20 and without a long wick, a test of the $0.15-$0.17 range might occur shortly.

DOGE is trading at $0.2026 at press time.