Dogecoin
Dogecoin rallied by 8.88% on Monday. Following a 1.51% gain on Sunday, Dogecoin ended the day at $0.2416.
A choppy start to the day saw Dogecoin fall to an early morning intraday low $0.2121 before making a move.
Dogecoin fell through the first major support level at $0.2161 before surging to a late intraday high $0.2489.
Dogecoin broke through the day’s major resistance levels before falling back through the third major resistance level at $0.2438.
In spite of the pullback, Dogecoin wrapped up the day at $0.24 levels.
At the time of writing, Dogecoin was up by 1.59% to $0.2454. A mixed start to the day saw Dogecoin fall to an early morning low $0.2395 before rising to a high $0.2491.
Dogecoin left the major support and resistance levels untested early on.
For the day ahead
Dogecoin would need to avoid the $0.2342 pivot to bring the first major resistance level at $0.2563 into play.
Support from the broader market would be needed, however, for Dogecoin to break back through to $0.25 levels.
Barring an extended crypto rally, the first major resistance level and resistance at $0.26 levels would likely cap the upside
In the event of a broad-based crypto rally, Dogecoin could test the second major resistance level at $0.2710.
A fall through $0.2342 pivot would bring the first major support level at $0.2195 into play.
Barring an extended sell-off, however, Dogecoin should avoid sub-$0.21 levels. The second major support level sits at $0.1974.
Looking at the Technical Indicators
First Major Support Level: $0.2195
Pivot Level: $0.2342
First Major Resistance Level: $0.2563
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