$DOGE

It formed an outside candlestick pattern on December 2, indicating a tough battle between the bulls and the bears.

The upward movement is likely to face selling at the resistance line of the channel. If the price turns down from the resistance line, it will signal that the DOGE/USDT pair may spend some more time inside the channel.

A break and close below the channel will suggest profit-booking by short-term traders. This could pull the price down to $0.33 and then to $0.30. Alternatively, a break and close above the channel could pave the way for a rally to $0.59.