DOGE Price Analysis for January 27

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Dis­claimer: The opin­ion expressed here is not invest­ment advice – it is pro­vid­ed for infor­ma­tion­al pur­pos­es only. It does not nec­es­sar­i­ly reflect the opin­ion of U.Today. Every invest­ment and all trad­ing involves risk, so you should always per­form your own research pri­or to mak­ing deci­sions. We do not rec­om­mend invest­ing mon­ey you can­not afford to lose.

Bears are about to seize the ini­tia­tive as most of the coins are back to the red zone.

Top 10 coins by CoinMarketCap

DOGE/USD

DOGE is one of the coins falling the most, declin­ing by 1.40% over the last 24 hours.

DOGE/USD chart by TradingView

Despite the decline, the price is trad­ing near the resis­tance lev­el on the hourly chart. If the rate can remain near the $0.08586 mark until the end of the day, there are chances to see a break­out tomorrow.

DOGE/USD chart by TradingView

On the dai­ly time frame, ongo­ing side­ways trad­ing is the more like­ly sce­nario for the upcom­ing day as nei­ther bulls nor bears have seized the ini­tia­tive yet. All in all, one can expect DOGE to locate in a wide range between $0.08 and $0.09 shortly.

DOGE/USD chart by TradingView

From the midterm point of view, the sit­u­a­tion is sim­i­lar as the price is stuck in the mid­dle of a wide chan­nel. Fur­ther growth can be pos­si­ble only if the rate gets back to the $0.09 zone and fix­es above it. How­ev­er, there are low chances to see that soon, based on the declin­ing volume.

DOGE is trad­ing at $0.08516 at press time.

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