DOGE Price Analysis for October 18

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The growth has not lasted long, according to CoinStats.

DOGE/USD

DOGE is no exception to the rule, going down by 1%.

On the hourly time frame, the rate of DOGE is near the local support level, which means that bears are not going to give up so easily. If the daily bar closes around $0.05850, the breakout may lead to a blast to the $0.05830 zone soon.

A similar picture can be seen on the bigger time frame, even though the price of DOGE is far from the support. Currently, traders should pay attention to the interim zone of $0.057.

If the decline continues to it, one should expect a possible test of the $0.05560 level.

From the midterm point of view, it is too early to make any predictions as a few days remain until the candle’s closure. If it happens below the last bar low, the correction is likely to continue to the $0.052-$0.054 area.

DOGE is trading at $0.05859 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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