Dogecoin ends the trading week at 0.2894 and continues to move as part of the growth and completion of the ”Triangle” pattern. Moving averages indicate a bearish trend. Prices broke the area between the signal lines upward, which indicates pressure from buyers of the coin and a potential continuation of the rise. As part of the DOGE/USD rate forecast for the next trading week, we should expect an attempt to reduce the value of a digital asset and a test of the support area near the level of 0.2255. From where a rebound is expected again and an attempt to raise Dogecoin cryptocurrency with a potential target above the level of 0.5005.
Dogecoin Forecast and Analysis November 1 — 5, 2021
An additional signal in favor of raising the DOGE/USD quotes in the current trading week November 1 — 5, 2021 will be a test of the support line on the relative strength index (RSI). The second signal will be a rebound from the lower border of the “Triangle” pattern. Cancellation of the option to raise Dogecoin cryptocurrency next trading week will be a fall and a breakdown of the 0.1705 area. This will indicate a breakdown of the support area and a continued fall in DOGE/USD quotes with a target below the level of 0.1005. Confirmation of the rise in cryptocurrency will be a breakdown of the resistance area and closing of quotations above the level of 0.3595, which will indicate a breakdown of the upper border of the ”Triangle” model.
Dogecoin Forecast and Analysis November 1 — 5, 2021 suggests an attempt to test the support area near the 0.2255 level. Then continued growth to the area above the level of 0.5005. An additional signal in favor of a rise in Dogecoin will be a test of the trend line on the relative strength index (RSI). Cancellation of the growth option will be a fall and a breakdown of the 0.1705 area. This will indicate a continued decline in cryptocurrency with a target below the level of 0.1005.
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