DOGE/USD are trading at 0.0685 and continue to move as part of the correction and the formation of the “Triangle” model. Moving averages indicate a short-term bullish trend for Dogecoin. Prices are again testing the area between the signal lines, which indicates pressure from sellers of the asset and a potential continuation of the decline already from current levels. At the moment, we should expect an attempt to develop a correction in the value of the digital asset and a test of the resistance level near the 0.0735 area. Where can we expect a rebound down again and a continuation of the fall of the Dogecoin rate with a potential target below the level of 0.0605.
Dogecoin Forecast DOGE/USD August 26, 2022
A strong signal in favor of a decline in DOGE/USD quotes will be a rebound from the trend line on the relative strength index (RSI). The second signal will be a rebound from the upper border of the “Triangle” model. Cancellation of the option to reduce the coin will be a strong increase in the value of the asset and a breakdown of the area of 0.0825. This will indicate a breakdown of the resistance area and continued growth of the cryptocurrency rate with a potential target above the level of 0.0995. With the breakdown of the support area and the closing of quotes below the level of 0.0605, we should expect confirmation of the development of a downward impulse for Dogecoin, which will indicate a breakdown of the lower border of the “Triangle” model.
Dogecoin Forecast DOGE/USD August 26, 2022 suggests an attempt to correct and test the resistance area near the level of 0.0735. Where should we expect a rebound and a continuation of the fall of the DOGE/USD coin to the area below the level of 0.0605. An additional signal in favor of the Dogecoin decline will be a test of the broken trend line on the relative strength index (RSI). Cancellation of the reduction option will be a strong growth and a breakdown of the 0.0825 area. This will indicate a continued rise in the cryptocurrency with a target above the level of 0.0995.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link