Dogecoin
Dogecoin rose by 2.03% on Tuesday. Partially reversing a 5.72% slide from Monday, Dogecoin ended the day at $0.2407.
A mixed start to the day saw Dogecoin fall to an early morning intraday low $0.2338 before making a move.
Steering clear of the first major support level at $0.2252, Dogecoin rose to a late afternoon intraday high $0.2417.
Falling short of the first major resistance level at $0.2494, Dogecoin slipped back to sub-$0.24 levels before finding late support.
At the time of writing, Dogecoin was down by 0.42% to $0.2397. A mixed start to the day saw Dogecoin rise to an early morning high $0.2411 before falling to a low $0.2394.
Dogecoin left the major support and resistance levels untested early on.
For the day ahead
Dogecoin would need to avoid the $0.2387 pivot to bring the first major resistance level at $0.2437 into play.
Support from the broader market would be needed, however, for Dogecoin to break out from Tuesday’s high $0.2417.
Barring an extended crypto rally, the first major resistance level would likely cap the upside
In the event of a broad-based crypto rally, Dogecoin could test resistance at $0.25 levels before any pullback. The second major resistance level sits at $0.2466.
A fall through the $0.2387 pivot would bring the first major support level at $0.2358 into play.
Barring another extended sell-off, however, Dogecoin should avoid sub-$0.23 levels. The second major support level at $0.2308 should limit the downside.
Looking at the Technical Indicators
First Major Support Level: $0.2358
Pivot Level: $0.2387
First Major Resistance Level: $0.2437
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
