DOGE Price Analysis for January 20

The market remains bearish after yesterday’s drop, according to CoinMarketCap.

DOGE/USD

The rate of DOGE has declined by 2.07% over the last 24 hours.

On the hourly chart, the price of DOGE is near the local support at $0.1246. If the rate does not bounce back by the end of the day, one can expect an ongoing drop to the $0.12 zone.

On the longer time frame, there are also no reversal signals yet. If the daily bar closes near its low, there is a high chance of seeing a test of the nearest support at $0.1199 by the end of the week.

From the midterm point of view, one should pay attention to the weekly candle’s closure in terms of the support at $0.1199.

If its breakout happens, the accumulated energy might be enough for an ongoing correction to the $0.10 range.

DOGE is trading at $0.1256 at press time.

Source