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Is Dogecoin making a reversal?

 

DOGUSD – Dogecoin cryptocurrency recently reversed up from the support area located in between of the key support level 0.1090 (which stopped the price at the end of February, as can be seen from the daily Dogecoin chart below) and the lower daily Bollinger Band. The upward reversal from this support zone stopped the previous medium-term impulse wave (iii) – which belongs to the intermediate impulse wave (3) from last December.

 

 

Given the strength of the aforementioned support area and the bullish divergence that can be seen on the daily Stochastic indicator, Dogecoin cryptocurrency can be expected to rise further toward the next resistance level 0.124, above the previous short-term correction (ii).

 

DOGUSD - Primary Analysis - Mar-14 1241 PM (1 day)

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