DOGE Price Prediction for May 25
The weekend has started on a bullish note for the top 10 coins, as reported by CoinMarketCap. DOGE/USD has seen a 2.38% increase in the last 24 hours.
Looking at the hourly chart, the price of DOGE is currently trading within a narrow channel, with support at $0.1627 and resistance at $0.1697. If buyers take control and the price closes near $0.17, a breakout towards the $0.1750 zone may occur.
On a larger time frame, neither the buyers nor the sellers are dominating, as the price remains far from significant levels. As a result, any significant price movements are unlikely to happen in the near future. Overall, it is more likely that DOGE will continue to trade sideways within the range of $0.16 to $0.17.
From a midterm perspective, it would be advisable for traders to focus on the weekly bar closure. If the closure happens near its peak, there is a possibility of further upward movement towards the $0.18 to $0.20 area.
At the time of writing, DOGE is trading at $0.1663.