Dogecoin cryptocurrency can be expected to rise to the next pivotal resistance level 0.1400, former support from the start of January – acting as the resistance now, after it was broken earlier this month.
- Dogecoin reversed from support zone
- Likely to rise to resistance level 0.1400
Dogecoin cryptocurrency recently reversed up from the support zone between the multi-month support level 0.1165 (which stopped the previous minor correction 2 at the end of December, as can be seen from the daily Dogecoin chart below) and the lower daily Bollinger Band. The upward reversal from this support zone started the active short-term impulse wave iii, which belongs to the short-term impulse wave 3 of the intermediate impulse wave (3) from the start of October.
Given the strength of the support level 0.1165, improving sentiment seen across the crypto markets and the oversold reading on the daily Stochastic indicator, Dogecoin cryptocurrency can be expected to rise to the next pivotal resistance level 0.1400, former support from the start of January – acting as the resistance now, after it was broken earlier this month.
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