Dogecoin ends the trading week at 0.1401 and continues to move within the correction and the downward channel. This is where the “Triangle” model is formed. Moving averages indicate a bearish 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. 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 0.1845. 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 0.0605.
Dogecoin Weekly Forecast February 21 — 25, 2022
An additional signal in favor of falling DOGE/USD quotes in the current trading week February 21 — 25, 2022 will be a test of the resistance line on the relative strength index (RSI). The second signal will be a rebound from the upper curtain of the descending channel. Cancellation of the fall option for the Dogecoin cryptocurrency next trading week will be a strong growth and a breakdown of the 0.2675 area. This will indicate a breakdown of the resistance area and continued growth of DOGE/USD quotes with a target above the level of 0.3255. The fall of the cryptocurrency will be confirmed by a breakdown of the support area and closing of quotes below the level of 0.1005, while the price has rebounded from this area several times. This will also indicate the breakdown of the lower boundary of the “Triangle” model and the development of the model.
Dogecoin Weekly Forecast February 21 — 25, 2022 suggests an attempt to test the resistance area near the level of 0.1845. Then the continuation of the fall to the area below the level of 0.0605. 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 0.2675 area. This will indicate a continued rise in the cryptocurrency with a target above the level of 0.3255.
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