DOGE Reaches New ATH, Robinhood Crashes During Coin’s Surge

Dogecoin (DOGE) hit a new high on May 4th. Its rating is now higher than established companies like Twitter and Ford.
DOGE has hit a confluence of resistance levels near $ 0.62 and has been rejected by it. Despite the rejection, technical indicators do not yet show any significant signs of weakness.
New all-time high for DOGE
DOGE has been up since April 23, when it traded at a low of just $ 0.169. The rise is not yet complete. Today the token managed to hit a new all-time high of $ 0.60.
The technical indicators remain optimistic and support the uptrend. This is particularly evident from the RSI cross above 70 and the increasing MACD.
However, it can be said that DOGE hit the external fib resistance of 1.61 at $ 0.626. If the upward move finally continues, the next significant resistance area will be at $ 0.916.
Chart according to TradingView "target =" _ blank "> Chart according to TradingView
DOGE wave number
The wave number suggests that DOGE is in wave five of a bullish impulse. Additionally, it continues to support the importance of the $ 0.62 resistance area.
A target for the top of this movement is found by projecting the length of waves 1-3 onto the bottom of the fourth wave. This gives a target of $ 0.616, which is very close to the $ 0.626 resistance area outlined earlier.
If the current wave extends, another Fib resistance will be at $ 0.76. This would likely serve as a minor resistance level ahead of $ 0.916.
At this time, we cannot determine whether wave five will expand.
Chart according to TradingView "target =" _ blank "> Chart according to TradingView
In conclusion, DOGE is likely to be in the fifth and final wave of a bullish impulse. Although there are no signs of weakness, the token has reached a confluence of resistance levels which could mark the top of the upside move.
If the move extends, the next resistance levels are at $ 0.76 and $ 0.91, respectively.
As reported, the crypto trading app Robinhood had "intermittent problems" with crypto trading today as DOGE had grown 120% in the past week and users poured into the app. However, the trading app has not clarified whether the problems were actually caused by the increased interest and trading volume.
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