Dogecoin rose 0.92% on Monday. Dogecoin reversed a 0.60% loss from Sunday, ending the day at $ 0.3179.
A mixed start to the day caused Dogecoin to hit an early morning intraday low of $ 0.3131 before moving.
Dogecoin, which moved away from the first major support level at $ 0.3060, rose to a late morning intraday high of $ 0.3282 before turning back into reverse.
Dogecoin broke the first major resistance level at $ 0.3229 before falling back to $ 0.3131.
Dogecoin continued to steer clear of key support levels, moving back to the $ 0.317 level and into the green.
At the time of writing, Dogecoin is down 0.96% to $ 0.3148. After a mixed start to the day, Dogecoin rose to an early morning high of $ 0.3197 before falling to a low of $ 0.3148.
Dogecoin left key support and resistance levels untested early on.
For the coming day
Dogecoin would have to move through the $ 0.3197 pivot to bring the first major resistance level into play at $ 0.3264.
However, in order for Dogecoin to break out of the $ 0.3250 level, support from the broader market would be required.
Aside from an extended crypto rally, the first major resistance level and Monday’s high at $ 0.3282 would likely limit any uptrend.
In the event of a breakout, Dogecoin could test the second major resistance level at $ 0.3348.
A failure of $ 0.3196 would bring the first major support level into play at $ 0.3113.
However, apart from a lengthy sell-off, Dogecoin should stay away from below $ 0.30. The second major support level at $ 0.3046 and 23.6% FIB at $ 0.3016 should limit the downside.
Look at the technical indicators
First major support level: $ 0.3113
Pivot Level: $ 0.3197
First major resistance level: $ 0.3264
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 published on FX Empire