Bulls have started to lose their initiative, according to CoinMarketCap.
DOGE/USD
The price of DOGE is one of the biggest losers today, falling by 4.62%.
On the hourly chart, the rate of DOGE is near the local support of $0.1927. If buyers cannot seize the initiative and the daily bar closes around current prices, one can expect a level breakout, followed by a dump to the $0.19 zone.
On the larger time frame, the price of DOGE has once again bounced off the $0.20 zone. If the situation does not change, a correction to the $0.1850-$0.19 area is the most likely scenario by the end of the week.
From the midterm point of view, none of the sides is dominating. The volume keeps going down, which means there are low chances of seeing sharp moves soon.
In this case, sideways trading in the range of $0.18-$0.20 is the most likely scenario.
DOGE is trading at $0.1935 at press time.
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