DOGE Price Analysis for December 6

The weekend has started with a market correction, according to CoinMarketCap.

Top coins by CoinMarketCap

DOGE/USD

The rate of DOGE has declined by 3.35% over the last 24 hours.

Image by TradingView

On the hourly chart, the price of DOGE is in the middle of the local channel between the support of $0.1383 and the resistance of $0.1403. As neither side is dominating, there are low chances to see sharp moves by tomorrow.

Image by TradingView

On the bigger time frame, the situation is more bearish. The rate of the meme coin is closer to the support than to the resistance.

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If sellers’ pressure continues, one can expect a test of the $0.1332 level by the end of the week.

Image by TradingView

From the midterm point of view, the picture is similar. If the weekly candle closes near its bar low, the accumulated energy might be enough for a further downward move to the $0.10-$0.12 range.

DOGE is trading at $0.1395 at press time.

Source: https://u.today/doge-price-analysis-for-december-6