As October comes to a close, analysts highlight two critical factors that could influence market dynamics. The first point suggests that the anticipated price increase in the fourth quarter may push values beyond $69,000. Secondly, with U.S. elections on the horizon, historical trends indicate that market activity typically rises during election periods. However, the question remains: Is this pattern likely to repeat itself?
What’s Happening with Shiba Coin?
For Shiba Coin enthusiasts to maintain momentum, it is crucial to hold the price at the $0.0000175 mark. Nevertheless, they have not yet secured daily closes above $0.0000192. Recently, Bitcoin‘s price saw a dip back to $66,600, suggesting a potential retreat towards lower support levels. The primary support area lies at $0.00001610.
How is Dogecoin Performing?
Despite Dogecoin‘s recent climb to new highs, it has encountered difficulties breaking the $0.152 resistance point, coinciding with a drop in Bitcoin’s value. A fallback to $0.130 seems plausible, with a more considerable drop possible down to $0.115. On the upside, if conditions improve, Dogecoin could target resistance levels around $0.15, $0.18, and even $0.23.
Key Insights:
- The fourth-quarter price surge may exceed $69,000.
- Historical data shows markets typically trend upward during U.S. elections.
- Shiba Coin must maintain critical support levels to sustain its upward trajectory.
- Dogecoin faces resistance challenges but holds potential for gains if market conditions shift.
Market dynamics will likely remain volatile as these factors unfold, affecting both Shiba Coin and Dogecoin in the days leading up to the elections and beyond.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
