DOGE Price Analysis for December 18

Bulls could not seize the initiative on the last day of the week. There are some exceptions, however.

DOGE/USD

Unlike other coins, the rate of DOGE has risen by 1.73% over the last 24 hours.

On the hourly chart, the day has started with a price blast, setting the support level at $0.07755 and the resistance at $0.07949. If the rate remains close to the upper level until the end of the week, there is a chance to see a continued rise to the $0.08 zone tomorrow.

On the bigger time frame, the situation is unclear as buyers have not seized the initiative yet after yesterday’s bullish candle. Currently, traders’ attention should be focused on the nearest mirror level at $0.08. If a breakout happens, the upward move may last to the $0.084 zone.

Thus, the selling volume is declining, confirming bears’ weakness.

The complete opposite picture is on the weekly chart as the rate is located near the support level at $0.07053. Currently, there are no prerequisites for a midterm rise as buyers have not accumulated enough power yet. In this case, a drop below $0.07 is the more likely scenario until the end of the month.

DOGE is trading at $0.07909 at press time.

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