According to CoinStats, bulls are currently trying to maintain the momentum and hold the initiative in the cryptocurrency market. The price of DOGE (Dogecoin) has increased by 3.83% since yesterday.

On the hourly chart, the price of DOGE is approaching a local support level of $0.2558. If sellers continue to exert pressure, there may be a level breakout, followed by a correction towards the $0.25 zone.

On a larger time frame, DOGE experienced a false breakout above the resistance level of $0.2691. If the daily bar closes far away from that level, it is likely to test the $0.245-0.25 area by the end of the week.

From a midterm perspective, DOGE is currently trading within the range of the previous bar. If this pattern continues until the end of the week, it is unlikely to see any significant price movements.

At the time of writing, DOGE is being traded at $0.2593.



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