Dogecoin ends the trading week at 0.1930 and continues to move as part of the growth and the formation of a ”Head and Shoulders” reversal pattern. Moving averages indicate a bearish trend. Prices are again testing the area between the signal lines, which indicates pressure from the sellers of the coin 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 slight decrease in the value of the digital asset and test the support area near the level of 0.1925. From where a rebound is expected again and an attempt to continue the rise of the Dogecoin cryptocurrency with a potential target above the level of 0.4065.
Dogecoin Weekly Forecast January 17 — 21, 2022
An additional signal in favor of the rise in DOGE/USD quotes in the current trading week of January 17 — 21, 2022 will be a test of the support line on the relative strength index (RSI), as we can see, it was broken up. The second signal will be a rebound from the lower boundary of the ”Head and Shoulders” reversal pattern. Cancellation of the option of raising the Dogecoin cryptocurrency in the next trading week will be a fall and a breakdown of the 0.1205 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 0.0905. The rise of the cryptocurrency will be confirmed by the breakdown of the resistance area and the closing of quotes above the level of 0.2405.
Dogecoin Weekly Forecast January 17 — 21, 2022 suggests an attempt to test the support area near the level of 0.1925. Then continued growth to the area above the level of 0.4065. 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 0.1205 area. This will indicate a continued decline in the cryptocurrency with a target below the level of 0.0905.
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