Dogecoin rose by 1.02% on Wednesday. Partially reversing a 1.55% loss from Tuesday, Dogecoin ended the day at $0.1986.
A mixed start to the day saw Dogecoin fall to an early morning intraday low $0.1946 before making a move.
Finding support at the first major support level at $0.1942, Dogecoin rallied to an early afternoon intraday high $0.2007.
Coming up against the first major resistance level at $0.2008, Dogecoin slid back to sub-$0.1950 levels before ending the day at $0.1980 levels.
At the time of writing, Dogecoin was up by 0.86% to $0.2003. A mixed start to the day saw Dogecoin fall to an early morning low $0.1976 before rising to a high $0.2005.
Dogecoin left the major support and resistance levels untested early on.
For the day ahead
Dogecoin would need to avoid a fall back through the $0.1980 pivot to bring the first major resistance level at $0.2013 into play.
Support from the broader market would be needed, however, for Dogecoin to break back through to $0.2010 levels.
Barring an extended crypto rally, the first major resistance level and resistance at $0.2020 would likely cap the upside
In the event of a broad-based crypto rally, Dogecoin could test resistance at $0.2050 levels before any pullback. The second major resistance level sits at $0.2041.
A fall back through $0.1980 pivot would bring the first major support level at $0.1952 into play.
Barring another extended sell-off, however, Dogecoin should avoid sub-$0.19 levels. The second major support level at $0.1919 should limit the downside.
Looking at the Technical Indicators
First Major Support Level: $0.1952
Pivot Level: $0.1980
First Major Resistance Level: $0.2013
23.6% FIB Retracement Level: $0.3016
38.2% FIB Retracement Level: $0.3859
62% FIB Retracement Level: $0.5221
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