Dogecoin cryptocurrency can be expected to rise to the next resistance level 0.0900 (former strong support from February, March and April).
- Dogecoin reversed from support zone
- Likely to rise to resistance level 0.0900
Dogecoin cryptocurrency today reversed up from the area zone between the strong long-term support level 0.0800 (which stopped the sharp downward impulse wave (iii) at the start of February, as can be seen from the daily Dogecoin chart below), support trendline of the daily down channel from May and the lower daily Bollinger Band. The upward reversal from this support zone stopped earlier short-term impulse wave C – which belongs to the extended ABC correction (2) from the start of this year.
Given the improved sentiment across the crypto markets, the strength of the level 0.0800 and the oversold reading on the daily Stochastic indicator, Dogecoin cryptocurrency can be expected to rise to the next resistance level 0.0900 (former strong support from February, March and April).