DOGE/USD are trading at 0.2641 and continue to move within the growth and bullish channel. Moving averages indicate a short-term bullish trend for Dogecoin. Prices went up from the area between the signal lines, which indicates pressure from buyers of the asset and a potential continuation of the rise from the current levels. At the moment, we should expect an attempt to develop a correction in the value of a digital asset and a test of the support level near the 0.2565 area. Where can we expect a rebound again and a continuation of the rise in the Dogecoin rate with a potential target above the level of 0.3265.
Dogecoin Forecast and DOGE/USD Analysis October 27, 2021
In favor of the growth of the DOGE/USD quotes, a test of the trend line on the relative strength index (RSI) will come out. The second signal will be a rebound from the lower border of the bullish channel. Cancellation of the coin growth option will be a fall in the value of the asset and a breakdown of the 0.2105 area. This will indicate a breakdown of the support area and a continued fall in the cryptocurrency rate with a potential target below the level of 0.1765. With the breakdown of the resistance area and closing of quotations above the level of 0.2985, we should expect confirmation of the development of a bullish trend in Dogecoin.
Dogecoin Forecast and DOGE/USD Analysis October 27, 2021 therefore imply an attempt to correct and test the support area near the 0.2565 level. Where can we expect a rebound and continued growth in DOGE/USD to the area above the level of 0.3265. 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 0.2105 area. This will indicate a continued decline in cryptocurrency with a target below the level of 0.1765.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link