Bulls could not keep the weekend’s rise going, and most of the coins are back to the red zone, according to CoinStats.
DOGE/USD
DOGE is the exception to the rule, rising by 1.09%.
On the hourly chart, the rate of DOGE is near the local support of $0.1435. If bears’ pressure continues, there is a high possibility of seeing a level breakout, followed by a further drop to the $0.1420 range.
On the longger time frame, none of the sides is controlling the initiative. However, if the daily bar closes far from its peak, the decline may lead to a test of the $0.1350-$0.14 range.
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Such a scenario is relevant until the end of the week.
From the midterm point of view, sellers are more powerful than buyers. As there are no reversal signals yet, the ongoing downward move remains the most likely scenario through the rest of this month.
DOGE is trading at $0.1455 at press time.