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DOGE Price Prediction for May 11

Sat, 11/05/2024 – 14:26

Cover image via U.Today

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Buyers could not hold the initiative, and the weekend has started with a drop of most coins, according to CoinMarketCap.

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DOGE/USD

The price of DOGE has declined by 4.89% over the last 24 hours.

Image by TradingView

On the hourly chart, the rate of DOGE might have found a local support level at $0.1433. At the moment, one should pay attention to the daily bar closure. If it happens far from this mark, there is a chance of a test of $0.1455.

Image by TradingView

On the bigger time frame, the technical picture is bearish as the rate is returning to the nearest support level of $0.1420. If a breakout happens, the decline may continue to the $0.1350-$0.14 zone soon.

Image by TradingView

From the midterm point of view, the price of DOGE has once again bounced off the resistance level of $0.1690, which means that buyers are not ready to seize the initiative yet. If the weekly candle closes around the current levels, traders may witness a test of the $0.13 area shortly.

DOGE is trading at $0.1434 at press time.

SOURCE

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