The cryptocurrency market may have reached a local bottom, with the price of Dogecoin (DOGE) rising by 9.07% since yesterday. On the hourly chart, DOGE is trading between the support of $0.2560 and the resistance of $0.2890, indicating ongoing sideways trading. The overall situation on a larger time frame suggests that neither bulls nor bears are dominating the market. Traders can expect consolidation in the range of $0.26-$0.30 by the end of the week. From a midterm perspective, DOGE had a false breakout of the support at $0.2148, but a quick bounce back is unlikely due to a lack of bullish energy. Sideways trading around $0.30 is the more probable scenario. At the time of writing, DOGE is trading at $0.2727.



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