Dogecoin ends the trading week at 0.1270 and continues to move as part of the growth and left the descending channel. Moving averages indicate a bullish trend. Prices have broken through the area between the signal lines up, which indicates pressure from buyers of the coin and a potential continuation of growth in the near future. As part of the DOGE/USD rate forecast for the next trading week, we should expect an attempt to develop a correction in the value of the digital asset and a test of the support area near the level of 0.1085. From where a rebound is expected again and an attempt to continue the growth of the Dogecoin cryptocurrency with a potential target above the level of 0.3005.
Dogecoin Weekly Forecast November 7 — 11, 2022
An additional signal in favor of the fall of DOGE/USD quotes in the current trading week November 7 — 11, 2022 will be a test of the downward trend 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 growth option for the Dogecoin cryptocurrency in the next trading week will be a price drop and a breakdown of the 0.0985 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 0.0645. The growth of the cryptocurrency will be confirmed by a breakdown of the resistance area and closing of quotes above the level of 0.1705.
Dogecoin Weekly Forecast November 7 — 11, 2022 suggests an attempt to test the support area near the level of 0.1085. Then continued growth to the area below the level of 0.3005. 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 0.0985 area. This will indicate a continued decline in the cryptocurrency with a target below the level of 0.0645.
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