Dogecoin
Dogecoin fell by 3.69% on Tuesday. Following a 10.43% slide on Monday, Dogecoin ended the day at $0.2009.
A choppy start to the day saw Dogecoin fall to an early morning low $0.1988 before making a move.
Steering clear of the first major support level at $0.1940, Dogecoin rose to a late morning intraday high $0.2185.
Falling short of the first major resistance level at $0.2285, however, Dogecoin slid to a late intraday low $0.1978.
Continuing to steer clear of the major support levels, Dogecoin moved back through to $0.20 levels to reduce the deficit.
At the time of writing, Dogecoin was down by 0.45% to $0.19996. A mixed start to the day saw Dogecoin rise to an early morning high $0.2050 before falling to a low $0.19989.
Dogecoin left the major support and resistance levels untested early on.
For the day ahead
Dogecoin would need to move through the $0.2057 pivot to bring the first major resistance level at $0.2137 into play.
Support from the broader market would be needed, however, for Dogecoin to break back through to $0.21 levels.
Barring an extended crypto rally, the first major resistance level and Tuesday’s high $0.2185 would likely cap the upside
In the event of a broad-based crypto rally, Dogecoin could test resistance at $0.23 levels before any pullback. The second major resistance level sits at $0.2264.
Failure to move through $0.2057 pivot would bring the first major support level at $0.1930 into play.
Barring another extended sell-off, however, Dogecoin should avoid sub-$0.19 levels. The second major support level sits at $0.1850.
Looking at the Technical Indicators
First Major Support Level: $0.1930
Pivot Level: $0.2057
First Major Resistance Level: $0.2137
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
This article was originally posted on FX Empire
