Dogecoin is once again attracting the attention of traders, showing positive dynamics against the backdrop of the cryptocurrency market growth. In this article, we will consider the short-term and long-term forecast for the Dogecoin/USDT pair based on technical indicators.
Short term forecast:
Dogecoin is currently trading at 0.13334 USDT, up 2.84%. The RSI indicator is showing 72.94, which may indicate that the asset is overbought. In the short term, a correction is likely with a rollback to the support levels of 0.12943 and 0.12239 USDT.
Long term forecast:
Moving averages (MA) show the continuation of the upward trend. The resistance level at 0.13420 will be key for further growth. If this level is broken, Dogecoin may continue to grow, but consolidation is possible before the next impulse.
Conclusion:
Current indicators suggest a possible correction in the short term, but the long-term uptrend remains in force.
