Dogecoin cryptocurrency can be expected to fall to the next support level 0.1050 (which reversed the price at the start of May).
- Dogecoin reversed from resistance zone
- Likely to fall to support level 0.1050
Dogecoin cryptocurrency recently reversed down from the resistance zone between the resistance level 0.1165 (former support from December and January, as can be seen from the dilly Dogecoin chart below), upper daily Bollinger Band and the 50% Fibonacci correction of the downward impulse from January. The downward reversal from the resistance zone stopped the previous impulse wave iii, which is itself a part of the intermediate impulse wave (1) from the start of February.
Given the strength of the resistance level 0.1165, bearish divergence on the daily Stochastic and the bearish sentiment can be seen across the crypto markets today, Dogecoin cryptocurrency can be expected to fall to the next support level 0.1050 (which reversed the price at the start of May).