Buyers Control Market Dynamics

According to CoinStats, buyers are dominating the market on the last day of the week.

DOGE/USD

The rate of DOGE has increased by 1.55% in the last 24 hours.

On the hourly chart, DOGE is approaching local resistance at $0.2182. If this upward trend continues, traders might soon test the $0.2190 mark.

On a broader time frame, the rate of this meme coin remains within the channel between support at $0.2058 and resistance at $0.2259.

Trading volume is decreasing, indicating that neither bulls nor bears have sufficient momentum for a significant move. Therefore, sideways trading within the range of $0.2150-$0.22 seems more probable.

From a midterm perspective, the situation remains neutral as DOGE’s price is distanced from key levels. Consequently, traders are unlikely to see increased volatility in the upcoming weeks.

At press time, DOGE is trading at $0.2183.