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Most of the coins have started the new week with a decline, according to the CoinMarketCap ranking.
DOGE/USD
The rate of DOGE has dropped by 1.20% over the last 24 hours.
On the hourly time frame, the price is coming back to the local support level at $0.07307. If buyers cannot seize the initiative, there are high chances of seeing a fall, followed by a sharp drop to the $0.072 zone.
On the bigger chart, the price keeps trading sideways, accumulating power for a further sharp move. Until the rate is above the $0.07 zone, traders are more likely to see growth than decline. However, bulls need more time to gather energy for a midterm rise.
All in all, consolidation in the area of $0.072-$.076 can take place within the next few days.
The situation is different on the weekly chart, as the price is located closer to the resistance than to the support. At the moment, one should pay attention to the candle's closure. If this happens near the $0.075 mark and above, the breakout may lead to growth to the $0.08 zone.
DOGE is trading at $0.07348 at press time.
Alex Dovbnya
