As October comes to a close, analysts highlight two critical factors that could influence cryptocurrency market dynamics.

Fourth Quarter Trends

The first factor suggests a significant price increase in the fourth quarter may push values beyond $69,000. The second factor, related to the upcoming U.S. elections, indicates a historical trend of increased market activity during this period. However, will this pattern repeat itself?

Shiba Coin Situation

For Shiba Coin enthusiasts to maintain momentum, it is crucial to hold the price at the $0.0000175 mark. However, they have not yet secured daily closes above $0.0000192. Recently, Bitcoin's price dipped back to $66,600, suggesting a potential retreat towards lower support levels. The primary support area lies at $0.00001610.

Dogecoin Analysis

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.

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.