Dogecoin completes the trading week at the level of 0.1538 and continues to move within the fall and the downtrend channel, prices are clinging to another important support area. 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 develop a small rise in the value of a digital asset and a test of the resistance area near the level of 0.1925. 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 January 10 — 14, 2022
An additional signal in favor of reducing the DOGE/USD quotes in the current trading week on January 10 — 14, 2022 will be a test of 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 of falling Dogecoin cryptocurrency in the next trading week will be a strong growth and a breakdown of the 0.2705 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 0.3565. Confirmation of the fall of the cryptocurrency will be a breakdown of the support area and closing of quotations below the level of 0.1255.
Dogecoin Weekly Forecast January 10 — 14, 2022 implies an attempt to test the resistance area near the 0.1925 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 0.2705 area. This will indicate a continued rise in the cryptocurrency with a target above the level of 0.3565.
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