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

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