Yesterday’s pullback of the Dogecoin price to the 0.06982 level formed a new May lower low. We stayed down for a short time, and the price quickly returned above the 0.07000 level. We are now on the verge of reaching the 0.07300 level. The current consolidation looks promising, and we could see a potential recovery to 0.07400, then 0.07500 levels.
In the zone around the 0.07000 level, we encounter the EMA50 moving average, and a move above it could significantly change the picture on the chart. Such a scenario could push Dogecoin to the 0.08000 level. We need a negative consolidation and a drop below the support at the 0.07200 level for a bearish option. After this, we could see a continuation of the pullback and a test of the 0.07000 and 0.06900 levels.
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