DOGE Price Analysis for November 16

Bears are controlling the situation on the market on the last day of the week, according to CoinStats.

DOGE chart by CoinStats

DOGE/USD

The price of DOGE has fallen by 1.48% since yesterday.

Image by TradingView

On the hourly chart, the rate of DOGE is near the local support of $0.1599. If buyers cannot seize the initiative and a breakout happens, the correction is likely to continue to the $0.1580 range.

Image by TradingView

Sellers are also more powerful than buyers on the bigger time frame. However, the price of the meme coin is far from the main levels at the moment.

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The volume is low, which means ongoing sideways trading is the more likely scenario over the next few days.

Image by TradingView

From the midterm point of view, there are no reversal signals so far. If the weekly bar closes around the current prices or below, the drop may lead to a test of the $0.12-$0.14 range soon.

DOGE is trading at $0.1614 at press time.

Source: https://u.today/doge-price-analysis-for-november-16