DOGE/USD are trading at the level of 0.0765 and continue to move as part of the growth and the beginning of the development of the reversal pattern ”Head and Shoulders”. Moving averages indicate a short-term bullish trend for Dogecoin. Prices have broken through the area between the signal lines up, which indicates pressure from buyers of the asset and a potential continuation of growth already from current levels. At the moment, we should expect an attempt to develop a decrease in the value of the digital asset and a test of the support level near the 0.0705 area. Where can we expect a rebound again and the continued growth of the Dogecoin rate with a potential target above the level of 0.1025.
Dogecoin Forecast DOGE/USD July 21, 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 ”Head and Shoulders” reversal pattern. Cancellation of the option to raise the coin will be the fall in the value of the asset and the breakdown of the area of 0.0565. 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 0.0245. With the breakdown of the resistance area and the closing of quotes above the level of 0.0835, we should expect confirmation of the development of the bullish momentum for Dogecoin.
Dogecoin Forecast DOGE/USD July 21, 2022 suggests an attempt to correct and test the support area near the level of 0.0705. Where should we expect a rebound and continued growth of the DOGE/USD coin to the area above the level of 0.1025. 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 0.0565 area. This will indicate a continued decline in the cryptocurrency with a target below the level of 0.0245.
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