Dogecoin
Dogecoin slid by 5.72% on Monday. Reversing a 3.86% gain from Sunday, Dogecoin ended the day at $0.2359.
A mixed start to the day saw Dogecoin rise to an early morning intraday high $0.2522 before hitting reverse.
Falling short of the first major resistance level at $0.2569, Dogecoin slid to an early afternoon intraday low $0.2280.
Dogecoin fell through the first major support level at $0.2413 and the second major support level at $0.2323.
Finding late support, however, Dogecoin broke back through the second major support level to end the day at $0.235 levels.
At the time of writing, Dogecoin was up by 0.35% to $0.2367. A mixed start to the day saw Dogecoin fall to an early morning low $0.2338 before rising to a high $0.2380.
Dogecoin left the major support and resistance levels untested early on.
For the day ahead
Dogecoin would need to move through the $0.2387 pivot to bring the first major resistance level at $0.2494 into play.
Support from the broader market would be needed, however, for Dogecoin to break out from $0.2450 levels.
Barring an extended crypto rally, the first major resistance level and Monday’s high $0.2522 would likely cap the upside
In the event of a broad-based crypto rally, Dogecoin could test resistance at $0.27 levels before any pullback. The second major resistance level sits at $0.2629.
Failure to move through the $0.2387 pivot would bring the first major support level at $0.2252 into play.
Barring another extended sell-off, however, Dogecoin should avoid sub-$0.22 levels. The second major support level sits at $0.2145.
Looking at the Technical Indicators
First Major Support Level: $0.2252
Pivot Level: $0.2387
First Major Resistance Level: $0.2494
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
