Bulls are more powerful than bears at the beginning of the weekend, according to CoinMarketCap.

Top coins by CoinMarketCapDOGE/USD

DOGE has gained a lot of value today, rocketing by 6.05%.

Image by TradingView

On the hourly chart, the price of DOGE has bounced off the local support level of $0.1253. If the daily bar closes far from it, the upward move may continue to the $0.13 area by tomorrow.

Image by TradingView

On the bigger time frame, one should pay attention to the candle closure in terms of the $0.1292 level.

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If it happens near it and with no long wick, the accumulated energy might be enough for a breakout followed by a blast to the $0.1350 area.

Image by TradingView

From the midterm point of view, bulls are trying to seize the initiative. If the weekly bar closes around the current prices, traders may expect a continued rise to the $0.14 mark next week.

DOGE is trading at $0.1271 at press time.