u.today
The year 2023 has started with a market fall, based on CoinMarketCap's ranking.
DOGE/USD
DOGE is looking worse than other coins on the list, having gone down by 0.63%.
DOGE/USD chart byTradingView" src="https://cnews24.ru/uploads/f55/f55107e14e156abd6f8efc96b21bc8dc05f625a7.png" size="1817x883">
On the hourly chart, DOGE started the day with a rise from the support at $0.06906. However, the growth was stopped at the resistance at $0.06970 formed by the false breakout.
If the rate returns to the upper mark, traders may see a test of the $0.07 zone shortly.
DOGE/USD chart byTradingView" src="https://cnews24.ru/uploads/561/561fb78083e936c7393ac1d2337c3558bc769d38.png" size="1817x883">
On the daily time frame, the price is trading sideways as DOGE has not accumulated enough for a sharp move yet. This statement is also confirmed by the low volume. All in all, the more likely scenario is trading in the range of $0.069-$0.07 next week.
DOGE/USD chart byTradingView" src="https://cnews24.ru/uploads/784/784d762b806ba12b52d9d978d2a9ca751b2b48e1.png" size="1817x883">
From the midterm point of view, the rate of DOGE is about to close below the recently formed support level at $0.06997. If buyers fail to seize the initiative by the end of the day, the drop may continue to the $0.064 area.
DOGE is trading at $0.06956 at press time.