DOGE/USD are trading at 0.1361 and continue to move as part of the correction and the formation of the “Triangle” model. Moving averages indicate a short-term bullish trend for Dogecoin. Prices have broken through the area between the signal lines down, which indicates pressure from sellers of the asset and a potential continuation of the fall from current levels. At the moment, we should expect an attempt to develop an increase in the value of a digital asset and a test of the resistance level near the 0.1415 area. Where can we expect a rebound down again and a continuation of the fall in the Dogecoin rate with a potential target below the level of 0.1065.
Dogecoin Forecast DOGE/USD February 4, 2022
A strong signal in favor of falling DOGE/USD quotes will be a rebound from the resistance 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 coin’s fall option will be a strong increase in the value of the asset and a breakdown of the 0.1655 area. This will indicate a breakdown of the resistance area and continued growth of the cryptocurrency rate with a potential target above the level of 0.1995. With the breakdown of the support area and the closing of quotes below the level of 0.1205, we should expect confirmation of the development of the downward impulse for Dogecoin and the start of the “Triangle” pattern.
Dogecoin Forecast DOGE/USD February 4, 2022 suggests an attempt to correct and test the resistance area near the level of 0.1415. Where should we expect a rebound and a continuation of the fall of DOGE/USD to the area below the level of 0.1065. An additional signal in favor of the Dogecoin decline will be a test of the trend line on the relative strength index (RSI). Cancellation of the fall option will be a strong growth and a breakdown of the 0.1655 area. This will indicate a continued rise in the cryptocurrency with a target above the level of 0.1995.
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