Dogecoin ends the trading week at 0.1393 and continues to move as part of the fall and the downward channel. Moving averages indicate a bearish trend. Prices have broken through the area between the signal lines down, 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 0.1855. 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 0.0625.
Dogecoin Weekly Forecast January 31 — February 4, 2022
An additional signal in favor of falling DOGE/USD quotes in the current trading week January 31 — February 4, 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 border 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 0.2705 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 0.0995, while the price has rebounded from this area several times.
Dogecoin Weekly Forecast January 31 — February 4, 2022 suggests an attempt to test the resistance area near the level of 0.1855. Then the continuation of the fall to the area below the level of 0.0625. 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 0.2705 area. This will indicate a continued rise in the cryptocurrency with a target above the level of 0.3255.
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