Dogecoin
Dogecoin slid by 8.50% on Sunday. Partially reversing a 28.08% breakout from Saturday, Dogecoin ended the week up by 17.46% to $0.2400.
A bullish the start to the day saw Dogecoin rally to an early morning intraday high $0.2840 before hitting reverse.
Coming up against the first major resistance level at $0.2824, Dogecoin slid to a late intraday low $0.2349.
Steering clear of the first major support level at $0.2229, however, Dogecoin returned to $0.245 levels before easing back.
At the time of writing, Dogecoin was down by 1.36% to $0.2367. A mixed start to the day saw Dogecoin rise to an early morning high $0.2426 before falling to a low $0.2352.
Dogecoin left the major support and resistance levels untested early on.
For the day ahead
Dogecoin would need to move through the $0.2530 pivot to bring the first major resistance level at $0.2710 into play.
Support from the broader market would be needed, however, for Dogecoin to break out from $0.25 levels.
Barring an extended crypto rally, the first major resistance level and Sunday’s high $0.2840 would likely cap any upside.
In the event of another breakout, Dogecoin could test resistance at the 23.6% FIB of $0.3016 and the second major resistance level at $0.3021.
Failure to move through the $0.2530 pivot would bring the first major support level at $0.2219 into play.
Barring another extended sell-off, however, Dogecoin should steer well clear of sub-$0.20 levels. The second major support level sits at $0.2039.
Looking at the Technical Indicators
First Major Support Level: $0.2219
Pivot Level: $0.2530
First Major Resistance Level: $0.2710
23.6% FIB Retracement Level: $0.3016
38.2% FIB Retracement Level: $0.3859
62% FIB Retracement Level: $0.5221
Please let us know what you think in the comments below.
Thanks, Bob
