DOGE/USD are trading at 0.1700 and continue to move within the correction and the bullish channel. Moving averages indicate a short-term bullish trend for Dogecoin. Prices have broken down the area between the signal lines, which indicates pressure from sellers of the asset and a potential continuation of the fall 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 support level near the 0.1605 area. Where should we expect a rebound again and a continuation of the rise in the Dogecoin rate with a potential target above the level of 0.2055.
Dogecoin Forecast DOGE/USD January 18, 2022
A strong signal in favor of the growth of DOGE/USD quotes will be a rebound from the support line on the relative strength index (RSI). 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 0.1405 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 0.1055. With the breakdown of the resistance area and the closing of quotes above the level of 0.1805, we should expect confirmation of the development of the bullish momentum for Dogecoin.
Dogecoin Forecast DOGE/USD January 18, 2022 suggests an attempt to correct and test the support area near the level of 0.1605. Where should we expect a rebound and continued growth of DOGE/USD to the area above the level of 0.2055. An additional signal in favor of the rise of 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 0.1405 area. This will indicate a continued decline in the cryptocurrency with a target below the level of 0.1055.
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