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DOGE Price Prediction for May 5

Sun, 5/05/2024 – 15:40

Cover image via www.tradingview.com

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Some coins keep trading in the green zone, while the rates of others are falling, according to CoinStats.

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DOGE chart by CoinStats

DOGE/USD

The price of DOGE has declined by 2.54% over the last 24 hours.

Image by TradingView

Despite today’s drop, the rate of DOGE is looking bullish on the hourly chart as it is about to return to the recently formed resistance of $0.1627.

If buyers can hold the gained initiative until the end of the day, one can expect a breakout followed by a move to $0.1650.

Image by TradingView

A less positive picture is on the daily time frame as the price is far from the key levels. However, if the rate returns to the $0.1690 level, the growth may continue to the $0.18 zone.

Image by TradingView

On the weekly chart, the situation is similar, but the rate of DOGE might need more time to get energy for a further sharp move due to low volume. In this regard, an ongoing consolidation in the zone of $0.1550-$0.1650 is the more likely scenario for the next days.

DOGE is trading at $0.1607 at press time.

SOURCE

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