DOGE's price has shown a slight increase in the last 24 hours but remains in a downtrend. Hourly charts suggest a potential support breakout with a target of $0.25. Longer-term analysis focuses on the closing price of the current candle and its implications for support at $0.2427. Midterm outlook suggests a possible bounce back to $0.26-$0.28 if the weekly closing price remains below $0.2204.
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We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. The price of DOGE has risen by 3.08% since yesterday. However, over the last week, the price has fallen by 13.48%.Currently, the price of DOGE is showing a bearish trend on the hourly chart. If this trend continues without a significant change by the end of the day, traders can anticipate a support breakout, potentially leading to a further drop towards the $0.25 area. Looking at the broader time frame, the price of DOGE is still far from its key levels. In this scenario, it's crucial to monitor the current candle’s closure. If the candle closes significantly below its high with a long wick, traders might expect a correction towards the support level of $0.2427. From a midterm perspective, the meme coin's price has experienced a false breakout of the $0.2204 support level. If the weekly bar closes considerably below this mark, there is a possibility of a local bounce back to the $0.26-$0.28 range
DOGE Cryptocurrency Price Analysis Support Breakout Bearish Trend
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