DOGE Price Analysis for November 1

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The cryptocurrency market keeps rising; however, there are some exceptions to the rule.

DOGE/USD

The rate of DOGE has dropped by 2.62% over the past day.

On the hourly chart, the price of DOGE is rather more bearish than bullish as it is located closer to the support than to the resistance. If the decline continues to the $0.066 mark, traders are likely to see a breakout, followed by a blast to $0.065 tomorrow.

On the daily time frame, the rate keeps falling after a failed attempt to fix above the $0.07 zone. If today’s bar closes with no long wick in the bearish zone, the downward move may lead to a test of support of $0.6418 until the end of the week.

From the midterm point of view, it is too early to make any predictions, as the rate is trading within the previous candle. Until the price is above the $0.6546 level, buyers have chances for a further rise. However, they need time to accumulate energy for that. In this regard, sideways trading in the area of $0.066-$0.07 is the more likely scenario for the next few days.

DOGE is trading at $0.06693 at press time.

About the author

Denys Serhiichuk

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at denys.serhiichuk@u.today.

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