Dogecoin slid by 3.85% on Tuesday. Following a 3.71% decline on Monday, Dogecoin ended the day at $0.1999.
A mixed the start of the day saw Dogecoin rise to an early morning intraday high $0.2089 before hitting reverse.
Falling short of the first major resistance level at $0.2166, Dogecoin slid to a late intraday low $0.1974.
Dogecoin fell through the first major support level at $0.2016 to end the day at sub-$0.20 levels.
At the time of writing, Dogecoin was down by 1.06% to $0.1978. A mixed start to the day saw Dogecoin rise to an early morning high $0.2002 before falling to a low $0.1970.
Dogecoin left the major support and resistance levels untested early on.
For the day ahead
Dogecoin would need to move through the $0.2021 pivot to bring the first major resistance level at $0.2067 into play.
Support from the broader market would be needed, however, for Dogecoin to break back through to $0.2050 levels.
Barring an extended crypto rally, the first major resistance level and Tuesday’s high $0.2089 would likely cap any upside.
In the event of a breakout, Dogecoin could test resistance at $0.21 levels before any pullback. The second major resistance level sits at $0.2136.
Failure to move through the $0.2021 pivot would bring the first major support level at $0.1952 into play.
Barring an extended sell-off, however, Dogecoin should steer clear of sub-$0.19 levels. The second major support level at $0.1906 should limit the downside.
Looking at the Technical Indicators
First Major Support Level: $0.1952
Pivot Level: $0.2021
First Major Resistance Level: $0.2067
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