Dogecoin cryptocurrency can be expected to rise further toward the next resistance level 0.0878 (which stopped the previous short-term correction at the end of last week).
- Dogecoin reversed from multi-month support level 0.08
- Likely to rise to resistance level 0.0878
Dogecoin cryptocurrency recently reversed up from the support zone between the multi-month support level 0.08 (which has been reversing the price from June, as can be seen from the daily Dogecoin chart below), lower daily Bollinger Band and the 61.8% Fibonacci correction of the upward impulse from the start of August. The upward reversal from this support zone created the daily Japanese candlesticks reversal pattern Hammer, which stopped the earlier minor impulse wave i – that belongs to the higher order impulse wave C from the end of September.
Given the strength of the support level 0.0795 and the predominantly bullish crypto sentiment seen today, which remains in Greed territory despite today’s short-term cooling, Dogecoin cryptocurrency can be expected to rise further toward the next resistance level 0.0878 (which stopped the previous short-term correction at the end of last week).