Bears have sized the initiative at the beginning of the weekend, according to CoinMarketCap.
DOGE/USD
The rate of DOGE has declined by 1.34% over the last 24 hours.
The price of DOGE might have set a local support level of $0.3934. As most of the ATR has been passed, any sharp moves are unlikely to happen by the end of the day.
On the bigger time frame, the rate of the meme coin is far from the support and resistance levels.
However, if the candle closes near its low, the decline may continue to the $0.38 zone soon.
From the midterm point of view, one should pay attention to the weekly candle closure in terms of the $0.3650 level. If it happens near it, the accumulated energy might be enough for a breakout, followed by a test of the $0.35 zone.
DOGE is trading at $0.3983 at press time.
