Dogecoin ends the trading week at 0.1260 and continues to move as part of the correction and the formation of the “Triangle” pattern. Moving averages indicate a bearish trend. Prices have broken through 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 increase in the value of the digital asset and test the resistance area near the level of 0.1515. From where a rebound down is expected again and an attempt to continue the fall of the Dogecoin cryptocurrency with a potential target below the level of 0.0455.
Dogecoin Weekly Forecast May 9 — 13, 2022
An additional signal in favor of falling DOGE/USD quotes in the current trading week May 9 — 13, 2022 will be a test of the trend line on the relative strength index (RSI). The second signal will be a rebound from the upper border of the “Triangle” pattern. Cancellation of the fall option for the Dogecoin cryptocurrency next trading week will be a strong growth and a breakdown of the 0.2005 area. This will indicate a breakdown of the resistance area and a continued rise in DOGE/USD quotes with a target above the level of 0.2595. The fall of the cryptocurrency will be confirmed by a breakdown of the support area and closing of quotes below the level of 0.0995, which will indicate a breakdown of the lower border of the “Triangle” model and the beginning of the development of this model.
Dogecoin Weekly Forecast May 9 — 13, 2022 suggests an attempt to test the resistance area near the level of 0.1515. Then the continuation of the fall to the area below the level of 0.0455. An additional signal in favor of the fall of 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 0.2005 area. This will indicate a continued rise in the cryptocurrency with a target above the level of 0.2595.
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