DOGE/USD are trading at 0.1185 and continue to move as part of the correction and the formation of the Head and Shoulders reversal pattern. Moving averages indicate a short-term bullish trend for Dogecoin. Prices are again testing the area between the signal lines, which indicates pressure from buyers of the asset and a potential continuation of growth already from current levels. At the moment, we should expect an attempt to develop a rise in the value of the digital asset and a test of the resistance level near the 0.1235 area. Where can we expect a rebound down again and a continuation of the fall of the Dogecoin rate with a potential target below the level of 0.1045.
Dogecoin Forecast DOGE/USD March 22, 2022
A strong signal in favor of falling DOGE/USD quotes will be a rebound from the trend line on the relative strength index (RSI). The second signal will be a rebound from the upper border of the descending channel, as well as the “Head and Shoulders” pattern. Cancellation of the coin’s fall option will be a strong increase in the value of the asset and a breakdown of the 0.1305 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 0.1685. With the breakdown of the support area and the closing of quotes below the level of 0.1155, we should expect confirmation of the development of a bearish momentum for Dogecoin.
Dogecoin Forecast DOGE/USD March 22, 2022 suggests an attempt to correct and test the resistance area near the level of 0.1235. Where should we expect a rebound and a continuation of the fall of the DOGE/USD coin to the area below the level of 0.1045. An additional signal in favor of the fall of Dogecoin will be a test of the trend line on the relative strength index (RSI). Cancellation of the strong growth option will be a strong growth and a breakdown of the 0.1305 area. This will indicate a continued rise in the cryptocurrency with a target above the level of 0.1685.