DOGE Price Analysis for November 7
Cover image via www.tradingview.com

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Bears are getting back in the game as the rates of some coins are falling.

Top coins by CoinMarketCap

DOGE/USD

The rate of DOGE has increased by almost 1% since yesterday.

Image by TradingView

On the hourly chart, the price of DOGE has made a false breakout of the local support level of $0.07278. If the daily bar closes far from this mark, the upward move may continue to the $0.075 zone tomorrow.

Image by TradingView

A different picture can be seen on the daily time frame. Buyers could not keep the rise going after yesterday’s bullish candle closure. 

If bulls cannot seize the initiative by the end of the day, the correction may continue to the $0.07 area soon.

Image by TradingView

From the midterm point of view, it is too early to make any predictions, as a few days remain until the bar closes. If it happens far from the resistance level, bears have the chance to seize the initiative for the next weeks.

DOGE is trading at $0.07319 at press time.

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