Dogecoin rallied by 15.64% on Sunday. Following an 11.14% gain on Saturday, Dogecoin ended the week up by 41.77% to $0.3402.
A mixed start to the day saw Dogecoin fall to a mid-morning intraday low $0.2866 before making a move.
Steering clear of the first major support level at $0.2746, Dogecoin rallied to a late intraday high $0.3498.
Dogecoin broke through the first major resistance level at $0.3063 and the second major resistance level at $0.3184.
More significantly, Dogecoin also broke through the 23.6% FIB of $0.3016.
Testing resistance at the third major resistance level at $0.3501, however, Dogecoin eased back to end the day at $0.3402.
At the time of writing, Dogecoin was up by 0.16% to $0.3408. A mixed start to the day saw Dogecoin rise to an early morning high $0.3449 before falling to a low $0.32995.
Dogecoin left the major support and resistance levels untested early on.
For the day ahead
Dogecoin would need to avoid the $0.3255 pivot to bring the first major resistance level at $0.3645 into play.
Support from the broader market would be needed, however, for Dogecoin to break out from Sunday’s high $0.3498.
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 38.2% FIB of $0.3859. The second major resistance level sits at $0.3887.
A fall through the $0.3255 pivot would bring the 23.6% FIB of $0.3016 and the first major support level at $0.3013 into play.
Barring an extended sell-off, however, Dogecoin should steer clear of sub-$0.30 levels. The second major support level sits at $0.2623.
Looking at the Technical Indicators
First Major Support Level: $0.3013
Pivot Level: $0.3255
First Major Resistance Level: $0.3645
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