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Bulls are trying to hold the initiative; however, some coins have already entered the correction phase.
DOGE is the biggest gainer today, rocketing by almost 13% over the last 24 hours.
Despite the growth, DOGE is coming back to the recently created support level at $0.13638, which means that buyers are losing the initiative. If buyers cannot seize the initiative, the breakout might lead to the test of the $0.13 zone.
On the daily time frame, DOGE has made a false breakout of the $0.1515 mark. If the situation does not change by the end of the day, the bears might come back to the game, which could lead to a drop to the $0.13 mark.
On the daily time frame against BTC, DOGE is facing almost the same issue. The price has made a false breakout of the BTC 0.00000721 mark against the increased volume.
At the moment, there are pretty low chances to see a further rise as the coin has grown a lot by now. In this case, a more likely scenario is a slight correction to the BTC 0.0000065 area.
DOGE is trading at $0.1381 at press time.
With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at firstname.lastname@example.org.
Disclaimer: Any financial and market information given on U.Today is written for informational purpose only. Conduct your own research by contacting financial experts before making any investment decisions.