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Dogecoin broke key support level 0.8000

Dogecoin cryptocurrency continues to fall after the earlier breakout of the key support level 0.8000 intersecting with the daily down channel from the start of December. The breakout of the support level 0.0800 should further accelerate the active sharp short-term downward impulse wave (iii) – which belongs to the high-order impulse wave 3 from the start of April.

Given the extremely bearish sentiment that can be observed seen across the cryptocurrency markets today – Dogecoin cryptocurrency can be expected to fall toward the next support level 0.0600 (likely price for the completion of the active impulse wave (iii)).

DOGUSD - Primary Analysis - May-12 1538 PM (1 day)


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