Dogecoin ends the trading week at the level of 0.2025 and continues to move within the correction and the downward channel. Moving averages indicate a bearish trend. Prices have broken through the area between the signal lines, 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 reduce the value of a digital asset and a test of the support area near the level of 0.1605. From where a rebound is expected again and an attempt to raise Dogecoin cryptocurrency with a potential target above the level of 0.4305.
Dogecoin Weekly Forecast December 6 — 10, 2021
An additional signal in favor of raising the DOGE/USD quotes in the current trading week on December 6 — 10, 2021 will be a test of the support line on the relative strength index (RSI). The second signal will be a rebound from the support level, as we see, prices have been pushing up from these levels for a long time. Cancellation of the option to raise Dogecoin cryptocurrency next trading week will be a fall and a breakdown of the 0.1005 area. This will indicate a breakdown of the support area and a continued fall in DOGE/USD quotes with a target below the level of 0.0505. Confirmation of the rise in the cryptocurrency will be the breakdown of the resistance area and the closing of quotations above the level of 0.3255, which will indicate a breakdown of the upper border of the bearish channel.
Dogecoin Weekly Forecast December 6 — 10, 2021 implies an attempt to test the support area near the 0.1605 level. Then continued growth to the area above the level of 0.4305. An additional signal in favor of a rise in 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 0.1005 area. This will indicate a continued decline in cryptocurrency with a target below 0.0505.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link