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BTC, DOGE and SHIB Price Analysis for November 2

Price Predictions
Tue, 11/02/2021 - 15:57
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Denys Serhiichuk
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BTC, DOGE and SHIB Price Analysis for November 2
Cover image via www.tradingview.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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Bulls keep dominating on the cryptocurrency market; however, some coins have already faced the correction phase.

Top coins by CoinMarketCap
Top coins by CoinMarketCap

BTC/USD

Yesterday morning, the bears failed to break through the support of $60,000. The Bitcoin (BTC) price pierced this psychological level, marking the daily low at $59,500, and quickly recovered above $62,000.

BTC/USD chart by TradingView
BTC/USD chart by TradingView

At the same time, the BTC price could not stay above this level for long so, in the afternoon, the pair returned to the area of average prices and consolidated in a sideways direction.

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BTC, ADA and BNB Price Analysis for October 31

It still relies on the support of the psychological level of 460,000 and the restoration of the pair to 100% fibo ($64,895).

Bitcoin is trading at $63,545 at press time.

DOGE/USD

The rate of DOGE is almost unchanged since yesterday.

DOGE/USD chart by Trading View
DOGE/USD chart by Trading View

DOGE keeps trading in the channel between the zone of the most liquidity at $0.2405 and the resistance at $0.3495.

Related
DOGE, ETH and SHIB Price Analysis for October 30

At the moment, neither bulls nor bears have seized the initiative, which is also confirmed by the low trading volume. In this case, the more likely scenario is continued sideways trading in the area around $0.28.

DOGE is trading at $0.2728 at press time.

SHIB/USD

SHIB is the biggest loser today as its rate has fallen by 3.23% over the last day.

SHIB/USD chart by TradingView
SHIB/USD chart by TradingView

SHIB is trading similar to DOGE as it is also located in a wide range. The selling volume is low, which means that further growth is more likely than a fall. Respectively, the ongoing trend might continue so the coin could accumulate more energy for a sharp move.

SHIB is trading at $0.00006865 at press time.

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About the author

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.