Dogecoin rallied by 7.69% on Sunday. Following a 3.49% gain from Saturday, Dogecoin ended the week down by 5.54% to $0.2647.
A mixed start to the day saw Dogecoin fall to a late morning intraday low $0.2403 before making a move.
Steering clear of the first major support level at $0.2326, Dogecoin rallied to a final hour intraday high $0.2676.
Dogecoin broke through the first major resistance level at $0.2572 to end the day at $0.264 levels.
At the time of writing, Dogecoin was down by 1.64% to $0.2604. A mixed start to the day saw Dogecoin rise to an early morning high $0.2673 before falling to a low $0.2575.
Dogecoin left the major support and resistance levels untested early on.
For the day ahead
Dogecoin would need to avoid a fall through the $0.2575 pivot to bring the first major resistance level at $0.2748 into play.
Support from the broader market would be needed, however, for Dogecoin to break out from Sunday’s high $0.2676.
Barring an extended crypto rally, the first major resistance level would likely cap any upside.
In the event of another breakout, Dogecoin could test resistance at the 23.6% FIB of $0.3016 before any pullback. The second major resistance level sits at $0.2848.
A fall through the $0.2575 pivot would bring the first major support level at $0.2475 into play.
Barring an extended sell-off, however, Dogecoin should steer clear of the second major support level at $0.2302.
Looking at the Technical Indicators
First Major Support Level: $0.2475
Pivot Level: $0.2575
First Major Resistance Level: $0.2748
23.6% FIB Retracement Level: $0.3016
38.2% FIB Retracement Level: $0.3859
62% FIB Retracement Level: $0.5221
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This article was originally posted on FX Empire