Dogecoin ends the trading week at 0.0981 and continues to move within a correction and a bullish channel. Moving averages indicate a bullish trend. Prices have broken through the area between the signal lines up, which indicates pressure from buyers of the coin and a potential continuation of growth in the near future. As part of the DOGE/USD rate forecast for the next trading week, we should expect an attempt to develop a correction in the value of the digital asset and a test of the support area near the level of 0.1135. From where a rebound down is expected again and an attempt to continue the fall of the Dogecoin cryptocurrency with a potential target below the level of 0.0445.
Dogecoin Forecast December 12 — 16, 2022
An additional signal in favor of the fall of DOGE/USD quotes in the current trading week of December 12 — 16, 2022 will be a test of the downward trend line on the relative strength index (RSI). The second signal will be a rebound from the upper border of the bullish channel. Cancellation of the option to reduce the Dogecoin cryptocurrency in the next trading week will be a strong price increase and a breakdown of the 0.1365 area. This will indicate a breakdown of the resistance area and continued growth of DOGE/USD quotes with a target above the level of 0.2275. The fall of the cryptocurrency will be confirmed by a breakdown of the support area and closing of quotes below the level of 0.0805, which will indicate a breakdown of the lower boundary of the bullish correction channel.
Dogecoin Forecast December 12 — 16, 2022 suggests an attempt to test the resistance area near the level of 0.1135. Then the continuation of the fall to the area below the level of 0.0445. An additional signal in favor of the Dogecoin decline will be a test of the trend line on the relative strength index (RSI). Cancellation of the fall option will be a strong rise in prices and a breakdown of the area of 0.1365. This will indicate a continued rise in the cryptocurrency with a target above the level of 0.2275.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
