Dogecoin Surges 1.84% in 24 Hours, Eyes $0.30

The price of Dogecoin (DOGE) has seen a 1.84% increase over the past 24 hours, according to CoinMarketCap. The hourly chart shows that the price of DOGE is attempting to retest the local resistance level of $0.2832. If the buying pressure continues, a test of the upper level could be expected by February 15.

On the bigger time frame, the price of DOGE is approaching the $0.29 zone. If a breakout occurs, the accumulated energy might be sufficient for an ongoing upward move towards the $0.30 area and beyond. However, from a midterm perspective, neither bulls nor bears are currently dominating the market. The price of DOGE is trading within the previous weekly bar, and a sideways trading range of $0.27-$0.30 is the most likely scenario if the candle closes around the current prices.

At the time of writing, DOGE is trading at $0.2786. As the weekend begins, most coins are back in the red zone, indicating a potential period of consolidation or correction in the market. Traders and investors should closely monitor the price action and key support/resistance levels to make informed decisions about their portfolios.