Dogecoin cryptocurrency can be expected to fall further to the next support level 0.0685 (which stopped earlier short-term impulse wave C).
- Dogecoin reversed from resistance area
- Likely to fall to support level 0.0685
Dogecoin cryptocurrency recently reversed down from the resistance area located between the resistance level 0.0770 (former strong support from the start of June, which stopped earlier impulse wave iii, as can be seen from the daily Dogecoin chart below), 20-day moving average and the 38.2% Fibonacci correction of the downward impulse from the end of June. The downward reversal from this resistance area created the daily Japanese candlesticks reversal pattern Doji.
Given the clear daily downtrend and the resumption of the bearish crypto sentiment, Dogecoin cryptocurrency can be expected to fall further to the next support level 0.0685 (which stopped earlier short-term impulse wave C).