The market is again in the red zone, according to CoinStats.
DOGE chart by CoinStatsDOGE/USD
The rate of DOGE has fallen by 2% since yesterday.
Image by TradingView
On the hourly chart, the price of DOGE is rising after setting a local support level of $0.1617. If growth continues, one can expect a test of $0.17 by tomorrow.
Image by TradingView
On the daily time frame, the rate of the meme coin has made a false breakout of yesterday's peak of $0.173. However, the candle is about to close far from its boundaries.
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In this case, sideways trading in the zone of $0.165-$0.17 is the more likely scenario.
Image by TradingView
From the midterm point of view, the picture is more positive. If the weekly bar closes near or above the $0.17 level, the accumulated energy might be enough for a breakout, followed by a move to the $0.18 area.
DOGE is trading at $0.1667 at press time.
