Most coins from the top 10 list are facing a correction, according to CoinMarketCap.
Top coins by CoinMarketCapDOGE/USD
DOGE is one of the biggest losers today, falling by 4.56%.
Image by TradingView
On the hourly chart, the rate of DOGE is trading near the local support level of $0.1206. If a bounce back does not occur by the end of the day, one can expect a test of the $0.12 zone tomorrow.
Image by TradingView
On the bigger time frame, bulls have failed to maintain yesterday's growth. If the daily bar closes around current prices, traders may witness a drop to the $0.115 area until the end of the week.
Image by TradingView
From the midterm point of view, the picture is neutral, as none of the sides has seized the initiative yet. In this case, there are low chances to see any sharp moves soon.
card
All in all, sideways trading in the zone of $0.11-$0.13 is the more likely scenario.
DOGE is trading at $0.1206 at press time.
