The cryptocurrency market is experiencing a calm day, with no significant ups or downs. Dogecoin (DOGE), in particular, has lost 0.88% of its value since yesterday. Despite this, the coin is trying to bounce back to its local resistance level of $0.1233. If successful, this could lead to a test of the $0.1250 area soon.

Looking at the bigger picture, neither bulls nor bears are dominating the market. Dogecoin's price is stuck in a channel between support at $0.1133 and resistance at $0.1292. This means that sideways trading in the $0.12-$0.1250 range is likely to continue.

In the midterm, the situation is similar. If the weekly bar closes at current prices, traders may see consolidation between $0.1150 and $0.13 for the next few days. Dogecoin is currently trading at $0.1227.

The author, Denys Serhiichuk, has over five years of trading experience and a deep understanding of both technical and fundamental market analysis. He publishes his predictions and analysis on TradingView and has worked with top blockchain companies.

In conclusion, Dogecoin's price is trying to break through the resistance level, but it's stuck in a channel. Sideways trading is likely to continue in the short term, with consolidation possible in the midterm. Only time will tell if DOGE can gain enough energy for a sharp move.