Dogecoin Reverses at $0.10, May Fall to $0.085

Dogecoin has reversed down from its resistance at $0.10, and according to analysis, it may fall further to the next support level of $0.085.

The reversal occurred in the resistance zone between the strong round resistance level of $0.1000, which was a former support level from May, the upper daily Bollinger Band, and the 61.8% Fibonacci correction of the downward impulse C in May.

This downward reversal has stopped the previous minor impulse waves 1, which belongs to the intermediate impulse wave (3) from the end of July.

The analysis suggests that with the weakening of bullish sentiment across the crypto markets and an overbought daily RSI, Dogecoin can be expected to fall further to the next support level of $0.085.