Dogecoin Price Analysis for August 19: Potential Breakout or Sideways Movement?

The cryptocurrency market saw a resurgence in positivity, with CoinMarketCap reporting a return to green territory. However, Dogecoin (DOGE) deviated from the trend, dropping by 1.18% over the last 24 hours. A closer look at the hourly chart reveals a false breakout of the local support level around $0.2156. If bullish momentum continues, DOGE’s price could reach its nearest resistance point by tomorrow. 24-hour and longer time frame analysis also highlights similar trends with false breakouts near the $0.2157 level. If the daily bar closes significantly above this mark, a bounce back towards the $0.2250-$0.23 area is likely to occur within the next days. 7-day perspectives suggest no clear dominance, as DOGE price remains far from key support and resistance levels. However, if this pattern persists by the end of the week, sideways trading in the range of $0.21 – $0.25 is projected. At the time of writing, DOGE is trading at $0.2203. Read the full analysis on U.Today.