DOGE/USD are traded at the level of 0.1769 and continue to move as part of the correction and the formation of the “Head and Shoulders” pattern. Moving averages indicate a short-term bearish trend for Dogecoin. Prices have broken the area between the signal lines up, which indicates pressure from buyers of the asset and a potential continuation of growth 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 0.1985 area. Where can we expect a rebound down again and the continuation of the fall in the Dogecoin rate with a potential target below the level of 0.1005.
Dogecoin Forecast DOGE/USD December 24, 2021
A strong signal in favor of reducing the DOGE/USD quotes will be a rebound from the resistance line on the relative strength index (RSI). The second signal will be a rebound from the upper border of the descending channel. Cancellation of the option to drop the coin will be a strong increase in the value of the asset and a breakdown of the 0.2405 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 0.2905. With the breakdown of the support area and closing of quotations below the level of 0.1455, we should expect confirmation of the development of a bearish trend for Dogecoin.
Dogecoin Forecast DOGE/USD December 24, 2021 implies an attempt to correct and test the resistance area near the level of 0.1985. Where can we expect a rebound and the continuation of the fall in DOGE/USD to the area below the level of 0.1005. An additional signal in favor of a decline in Dogecoin will be a test of the trend line on the relative strength index (RSI). Cancellation of the fall option will be a strong growth and a breakdown of the 0.2405 area. This will indicate a continued rise in the cryptocurrency with a target above the level of 0.2905.
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