DOGE/USD are traded at 0.2349 and continue to move within the fall and the downward channel. Moving averages indicate a short-term bullish trend for Dogecoin. Prices went down from the area between the signal lines, which indicates pressure from the sellers of the asset and a potential continuation of the fall from the current levels. At the moment, we should expect an attempt to develop a bullish correction in the value of a digital asset and a test of the resistance level near the 0.2445 area. Where can we expect a rebound again and the continuation of the fall in the Dogecoin rate with a potential target below the level of 0.1455.
Dogecoin Forecast and DOGE/USD Analysis October 28, 2021
In favor of reducing the DOGE/USD quotes, a test of the broken 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, which the sellers have confidently broken down. Cancellation of the coin drop option will be a strong growth in the value of the asset and a breakdown of the 0.2945 area. This will indicate a breakdown of the resistance area and continued growth in the cryptocurrency rate with a potential target above the level of 0.3655. With the breakdown of the support area and closing of quotations below the level of 0.1955, we should expect confirmation of the development of a bearish trend for Dogecoin.
Dogecoin forecast and course for October 28, 2021 imply an attempt to correct and test the resistance area near the 0.2445 level. Where can we expect a rebound and the continuation of the fall in DOGE/USD to the area below the level of 0.1455. An additional signal in favor of the fall in Dogecoin will be a test of the trend line on the relative strength index (RSI). Cancellation of the reduction option will be a strong growth and a breakdown of the 0.2945 area. This will indicate a continued rise in the cryptocurrency with a target above the level of 0.3655.
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