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DOGE Price Analysis for October 30

Sun, 10/30/2022 - 14:04
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Denys Serhiichuk
Does DOGE have power for further rise?
DOGE Price Analysis for October 30
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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The last day of the week is neutral for the cryptocurrency market as some coins are rising while others are facing a correction.

Top coins by CoinMarketCap

DOGE/USD

DOGE has gained the most value today, rising by 17.64% while its price has risen by over 100% over the last week.

DOGE/USD chart byTradingView

Despite the sharp rise today, DOGE is looking bearish on the hourly time frame as the price is returning to the recently created support level at $0.1235.

Related
Ethereum (ETH) Price Analysis for October 29

If a breakout occurs, the fall may continue to $0.1150 shortly.

DOGE/USD chart byTradingView

On the daily chart, the situation is unclear as DOGE could not keep rising today. If the bar closes below yesterday's peak at $0.1515, traders might expect a drop to the $0.11 zone next week.

DOGE/USD chart byTradingView

From the midterm point of view, DOGE has faced resistance at the mirror level at $0.1224. If buyers cannot seize the initiative by the end of the day, there is a possibility of a downward move to $0.10.

DOGE is trading at $0.12164 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.