Dogecoin

Dogecoin rose by 1.02% on Wednesday. Partially reversing a 1.55% loss from Tuesday, Dogecoin ended the day at $0.1986.

A mixed start to the day saw Dogecoin fall to an early morning intraday low $0.1946 before making a move.

Finding support at the first major support level at $0.1942, Dogecoin rallied to an early afternoon intraday high $0.2007.

Coming up against the first major resistance level at $0.2008, Dogecoin slid back to sub-$0.1950 levels before ending the day at $0.1980 levels.

At the time of writing, Dogecoin was up by 0.86% to $0.2003. A mixed start to the day saw Dogecoin fall to an early morning low $0.1976 before rising to a high $0.2005.

Dogecoin left the major support and resistance levels untested early on.

For the day ahead

Dogecoin would need to avoid a fall back through the $0.1980 pivot to bring the first major resistance level at $0.2013 into play.

Support from the broader market would be needed, however, for Dogecoin to break back through to $0.2010 levels.

Barring an extended crypto rally, the first major resistance level and resistance at $0.2020 would likely cap the upside

In the event of a broad-based crypto rally, Dogecoin could test resistance at $0.2050 levels before any pullback. The second major resistance level sits at $0.2041.

A fall back through $0.1980 pivot would bring the first major support level at $0.1952 into play.

Barring another extended sell-off, however, Dogecoin should avoid sub-$0.19 levels. The second major support level at $0.1919 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $0.1952

Pivot Level: $0.1980

First Major Resistance Level: $0.2013

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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