DOGUSD reversed from resistance area

DOGUSDDogecoin cryptocurrency recently reversed down from the combined resistance area located between the pivotal resistance level 0.1720 (former monthly high from February), the resistance trendline of the daily down channel from November and the 61.8% Fibonacci correction of the previous downward impulse from the middle of January.

 

Given the strength of the aforementioned resistance area, widespread bearish sentiment that can be seen across the cryptocurrency market today – DOGUSD prices can be expected to fall further toward the next support level 0.1400 (which stopped the previous correction B).

DOGUSD - Primary Analysis - Apr-06 1215 PM (1 day)

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