Dogecoin fell by 3.71% on Monday. Reversing a 0.98% gain from Sunday, Dogecoin ended the day at $0.2079.
A mixed the start of the day saw Dogecoin rise to a mid-morning intraday high $0.2190 before hitting reverse.
Coming within range of the first major resistance level at $0.2198, Dogecoin slid to a late intraday low $0.2040.
Dogecoin fell through the first major support level at $0.2113 and the second major support level at $0.2068.
Steering clear of sub-$0.20 levels, however, Dogecoin moved back through the second major support level to end the day at $0.2070 levels.
At the time of writing, Dogecoin was down by 0.27% to $0.2073. A mixed start to the day saw Dogecoin fall to an early morning low $0.2058 before rising to a high $0.2081.
Dogecoin left the major support and resistance levels untested early on.
For the day ahead
Dogecoin would need to move through the $0.2103 pivot to bring the first major resistance level at $0.2166 into play.
Support from the broader market would be needed, however, for Dogecoin to break back through to $0.2150 levels.
Barring an extended crypto rally, the first major resistance level and Monday’s high $0.2190 would likely cap any upside.
In the event of a breakout, Dogecoin could test resistance at $0.23 levels before any pullback. The second major resistance level sits at $0.2253.
Failure to move through the $0.2103 pivot would bring the first major support level at $0.2016 into play.
Barring an extended sell-off, however, Dogecoin should steer clear of the second major support level at $0.1953.
Looking at the Technical Indicators
First Major Support Level: $0.2016
Pivot Level: $0.2103
First Major Resistance Level: $0.2166
23.6% FIB Retracement Level: $0.3016
38.2% FIB Retracement Level: $0.3859
62% FIB Retracement Level: $0.5221
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This article was originally posted on FX Empire