DOGE and SHIB Price Analysis for November 12

Price Analysis
Sat, 11/12/2022 - 14:16
Cover image via www.tradingview.com
Read U.TODAY on
Google News

The weekend has started with a further decline on the cryptocurrency market.

DOGE/USD

DOGE is an exception, going up by 1.21% over the last 24 hours.

On the daily chart, traders should pay close attention to the resistance level at $0.9461. If the bar closes above it, the accumulated strength might be enough for a rise to the next zone around $0.11, where buyers may face bears' pressure.

Related
XRP and BNB Price Analysis for November 11

In addition, an upward move can happen as the selling volume has declined.

DOGE is trading at $0.8923 at press time.

SHIB/USD

Unlike DOGE, SHIB is in a bearish cycle despite the recent bullish candle. The meme coin's price has fallen by almost 6% since yesterday.

On the daily time frame, SHIB could not fix above the $0.00001 mark, which is a bearish midterm signal. If the decline continues to the support level at $0.00000924, the breakout may initiate a sharp drop to the $0.000008 area by the end of the month.

SHIB is trading at $0.00000957 at press time.