DOGE Price Analysis for December 17
Bulls couldn’t take control on the final day of the week.
DOGE/USD
The price of DOGE has increased by 1% compared to yesterday. However, over the last week, the price has actually declined by 3.27%.
It appears that a local support level at $0.0933 has been established for DOGE. If the upward momentum continues, traders may anticipate a test of the resistance at $0.09784 before the day is over.
On the daily time frame, however, the situation is not as positive. Despite a bullish candle, buyers were unable to sustain the upward movement. Should the correction persist and the candle close near the support level, there may be enough downward pressure for a potential drop to the $0.085-$0.090 range.
Looking at the weekly chart, it is evident that DOGE experienced a false breakout of the resistance at $0.10645. If the candle closes significantly below that mark, there is a strong possibility of a further decline towards the $0.08380 level.
At the time of writing, DOGE is currently trading at $0.09510.