Dogecoin fell by 2.87% on Monday. Partially reversing a 7.69% rally from Sunday, Dogecoin ended the day at $0.2571.
A mixed start to the day saw Dogecoin rise to an early morning intraday high $0.2673 before hitting reverse.
Falling short of the first major resistance level at $0.2748, Dogecoin slid to a late morning intraday low $0.2504.
Steering clear of the first major support level at $0.2475, Dogecoin revisited $0.26 levels before a late fall back into the red.
At the time of writing, Dogecoin was up by 0.03% to $0.2572. A mixed start to the day saw Dogecoin fall to an early morning low $0.2547 before rising to a high $0.2576.
Dogecoin left the major support and resistance levels untested early on.
For the day ahead
Dogecoin would need to move through the $0.2583 pivot to bring the first major resistance level at $0.2661 into play.
Support from the broader market would be needed, however, for Dogecoin to break back through to $0.26 levels.
Barring an extended crypto rally, the first major resistance level and Monday’s high $0.2673 would likely cap any upside.
In the event of another breakout, Dogecoin could test resistance at $0.29 before any pullback. The second major resistance level sits at $0.2752.
Failure to move through the $0.2583 pivot would bring the first major support level at $0.2492 into play.
Barring an extended sell-off, however, Dogecoin should steer clear of the second major support level at $0.2414.
Looking at the Technical Indicators
First Major Support Level: $0.2492
Pivot Level: $0.2583
First Major Resistance Level: $0.2661
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.
This article was originally posted on FX Empire