DOGE Price Analysis for January 17

Bulls are still unable to seize the initiative, according to CoinMarketCap.

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DOGE/USD

The rate of DOGE has declined by 0.39% over the last 24 hours.

Image by TradingView

On the hourly chart, the price of DOGE has made a false breakout of the local resistance at $0.1383. If the daily bar closes near the support, traders may see a test of the $0.1360 zone by tomorrow.

Image by TradingView

On the bigger time frame, the situation is also more bearish than bullish. The rate of DOGE is returning to the support level at $0.1358.

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If a breakout happens, the accumulated energy might be enough for a dump to the $0.1320-$0.1340 range soon.

Image by TradingView

From the midterm point of view, the price of DOGE is in the middle of the channel between the support at $0.1199 and the resistance at $0.1568. As the rate is far from the main levels, there are low chances to see sharp moves by the end of the month.

DOGE is trading at $0.1375 at press time.

Source: https://u.today/doge-price-analysis-for-january-17