Does growth rate of DOGE have any prerequisites at beginning of new month?
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The buyers’ dominance has not lasted long, according to CoinStats.
The rate of DOGE has declined by 3.82% since yesterday.
On the hourly chart, the rate of DOGE has almost touched the local support level of $0.06281. If the price comes back to it again, there is a high probability of seeing a channel breakout, followed by a blast to the $0.062 area soon.
Today’s fall has not affected the general technical situation on the daily time frame. The price is in the middle of the wide channel, which means that neither buyers nor sellers are dominating at the moment.
All in all, sideways trading in the area of $0.063-$0.065 is the more likely scenario for the next few days.
From the midterm point of view, the rate of DOGE has failed to fix above the interim mark of $0.065. If nothing changes by the end of the week, the breakout of the $0.06 zone may lead to the test of the support of $0.05509 until mid-September.
DOGE is trading at $0.06358 at press time.
Published at Fri, 01 Sep 2023 20:00:00 +0200