Dogecoin completes the trading week at 0.1815 and continues to move as part of the correction after the fall and the start of the ”Triangle” pattern. Moving averages indicate a bearish trend. Prices broke through the area between the signal lines downward, which indicates pressure from the coin’s sellers and a potential continuation of the fall. As part of the DOGE/USD rate forecast for the next trading week, we should expect an attempt to slightly increase the value of the digital asset and test the resistance area near the 0.2165 level. From where a rebound is expected again and an attempt to continue the fall of the Dogecoin cryptocurrency with a potential target below the level of 0.0505.
Dogecoin Weekly Forecast December 27 — 31, 2021
An additional signal in favor of reducing the DOGE/USD quotes in the current trading week December 27 — 31, 2021 will be a test of the resistance line on the relative strength index (RSI). The second signal will be a rebound from the lower border of the ”Triangle” pattern. Cancellation of the option of falling Dogecoin cryptocurrency in the next trading week will be a strong growth and a breakdown of the 0.3105 area. This will indicate a breakdown of the resistance area and continued growth of the DOGE/USD quotes with a target above the level of 0.3955. Confirmation of the fall of the cryptocurrency will be the breakdown of the support area and closing of quotations below the level of 0.0905.
Dogecoin Weekly Forecast December 27 — 31, 2021 implies an attempt to test the resistance area near the 0.2165 level. Then the continuation of the fall to the area below the level of 0.0505. 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 reduction option will be a strong growth and a breakdown of the 0.3105 area. This will indicate a continued rise in the cryptocurrency with a target above the level of 0.3955.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link