Dogecoin

Dogecoin rose by 2.45% on Tuesday. Partially reversing a 2.87% loss from Monday, Dogecoin ended the day at $0.2634.

A mixed start to the day saw Dogecoin fall to an early morning intraday low $0.2525 before making a move.

Steering clear of the first major support level at $0.2492, Dogecoin rallied to a mid-day intraday high $0.2758.

Dogecoin broke through the first major resistance level at $0.2661 before easing back.

Coming up against the second major resistance level at $0.2752, Dogecoin fell back to end the day at $0.263 levels.

At the time of writing, Dogecoin was down by 0.55% to $0.2620. A mixed start to the day saw Dogecoin rise to an early morning high $0.2638 before falling to a low $0.2569.

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

For the day ahead

Dogecoin would need to move through the $0.2639 pivot to bring the first major resistance level at $0.2753 into play.

Support from the broader market would be needed, however, for Dogecoin to break back through to $0.2750 levels.

Barring an extended crypto rally, the first major resistance level and Tuesday’s high $0.2758 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 $0.2872.

Failure to move through the $0.2639 pivot would bring the first major support level at $0.2520 back into play.

Barring an extended sell-off, however, Dogecoin should steer clear of sub-$0.25 levels. The second major support level sits at $0.2406.

Looking at the Technical Indicators

First Major Support Level: $0.2520

Pivot Level: $0.2639

First Major Resistance Level: $0.2753

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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