A report from U.Today revealed that sellers of Dogecoin $DOGE have dominated the scene on the first day of the weekend, with the price dropping by 1.3% over the past 24 hours.
On the hourly chart, the price of Dogecoin #DOGE is nearing a breakthrough of the local resistance at the level of $0.1395. If this breakthrough occurs, growth could lead to testing the range of $0.14-$0.1410 soon. However, on the larger chart, the price of Dogecoin (DOGE) is still under bearish pressure, as it has not bounced far from the support level at $0.1332. With neither side dominating, sideways trading in the narrow range of $0.1350-$0.1450 appears to be the most likely scenario.
According to the site and from a medium-term perspective, the picture looks similar, with two main possibilities: if the price succeeds in breaking the resistance at $0.1395 and maintains a close above it, this may open the way to test the area of $0.14-$0.1410, which could provide a psychological boost for buyers in the short term.
Conversely, support at $0.1332 forms a crucial line of defense. If this level is broken and the price closes decisively below it, the accumulated energy may be sufficient to test the $0.1250-$0.13 area by the end of the month, which would reinforce the broader bearish trend.
In light of the low volatility and the absence of strong impetus from either side, the most likely scenario in the near term is continued sideways trading within the specified range between $0.1350 and $0.1450.
The primary focus for traders will be on price movement around the two critical levels: resistance at $0.1395/$0.14 and support at $0.1332. Any strong and sustained break of either of these levels with a noticeable increase in trading volume will be an important signal for determining the next direction, noting that Dogecoin (DOGE) is currently trading at $0.1392.
