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DOGE Price Analysis for November 4

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Sat, 4/11/2023 - 18:00
DOGE Price Analysis for November 4
Cover image via www.tradingview.com

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Bulls have turned out to be more powerful than bears on the first day of the weekend.

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DOGE chart by CoinStats

DOGE/USD

The rate of DOGE has increased by 1.08% over the past 24 hours.

Image by TradingView

Despite today's rise, the rate of DOGE is looking bearish on the hourly chart. The price is trying to fix below the local support level of $0.06812. If that happens, the fall may continue to the $0.067 zone tomorrow.

Image by TradingView

On the daily chart, the price is in the middle of the wide channel, which means that neither bulls nor bears are ready for a sharp move.

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In this case, ongoing consolidation in the area of $0.067-$0.07 is the more likely scenario for next week.

Image by TradingView

A similar picture is on the weekly time frame. The rate remains above the level of $0.06546. If the bar closes above that mark, buyers have a chance for a further upward move to the $0.07 zone.

DOGE is trading at $0.068 at press time.

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