DOGE Price Analysis for October 23
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 week.

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DOGE/USD

DOGE is one of the biggest gainers today, rising by 5.35%.

Image by TradingView

On the hourly chart, the price of DOGE is in the middle of the local channel. From the technical point of view, there are low chances of seeing a further rise as the rate has passed most of the daily ATP.

In this case, sideways trading in the area of $0.064-$0.065 is the more likely scenario until tomorrow.

Image by TradingView

On the daily time frame, the rate of DOGE has tested the resistance of $0.06497. If the bar closes near it with no long wick, the breakout may lead to the test of the $0.067 zone soon.

Image by TradingView

From the midterm point of view, traders should focus on the nearest level of $0.06546. Even though the week has just started, if the candle closes around that mark, bulls may seize the initiative that can potentially lead to an upward move to $0.068.

DOGE is trading at $0.06429 at press time.

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