DOGE Price Prediction for August 5

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U.Today
08-05

Most coins remain in the green zone, according to CoinMarketCap.

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Top coins by CoinMarketCap

DOGE/USD

The price of DOGE has risen by 2.21% over the last 24 hours.

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Image by TradingView

On the hourly chart, the rate of DOGE is going up after a false breakout of the local resistance of $0.2015. 

If bulls' pressure continues, one can expect a test of the resistance by tomorrow.

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Image by TradingView

On the longer time frame, the price of the coin is far from main levels. The volume remains low, which means there are low chances of seeing sharp moves over the next few days.

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Image by TradingView

From the midterm point of view, the picture is rather more bearish than bullish. Traders should pay attention to the nearest zone of $0.20. If its breakout happens, the accumulated energy might be enough for an ongoing correction to the $0.18 mark.

DOGE is trading at $0.2080 at press time.

Source
Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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