Dogecoin Technical Analysis 5 October, 2021

• Dogecoin broke resistance zone
• Likely to rise to resistance level 0.3000

Dogecoin cryptocurrency continues to rise after the price broke the combined resistance zone lying at the intersection of the key resistance level 0.2500 (top of wave (ii) from September), resistance trendline of the daily down channel from August and the 38.2% Fibonacci correction of the sharp downward impulse wave (c) from the start of September. The breakout of this resistance zone accelerated the active impulse wave 3 of the intermediate impulse wave (3) from July.

Given the improvement of risk sentiment as seen across the cryptocurrency markets today , Dogecoin can be expected to rise further toward the next major round resistance level 0.3000 (which stopped wave (v) in September).

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