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DOGE Price Prediction for May 14

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Tue, 14/05/2024 – 15:37

Cover image via U.Today

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The bounce back has not lasted long, and most of the coins have come back to the red zone, according to CoinMarketCap.

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DOGE/USD

The rate of DOGE has declined by 1.12% over the past day.

Image by TradingView

On the hourly chart, the rate of the meme coin is in the middle of the local channel, between the support of $0.1461 and the resistance of $0.1551. 

As most of the daily ATR has been passed, there are low chances of any sharp moves by the end of the day.

Image by TradingView

A similar picture can be seen on the bigger time frame. The price of DOGE is far from its low and peak of the day, which means none of the sides has accumulated enough energy yet. In this case, ongoing sideways trading in the zone of $0.145-$0.1550 is the most likely scenario.

Image by TradingView

From the midterm point of view, DOGE is in the middle of a wide channel. As the volume keeps falling, traders are unlikely to see any sharp ups or downs soon.

DOGE is trading at $0.1491 at press time.

SOURCE

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