FXEMPIRE
All
Ad
Advertisement
Advertisement
Bob Mason
Add to Bookmarks
Top view of Dogecoin cryptocurrency physical coin

Dogecoin

Dogecoin rose by 1.08% on Tuesday. Following a 2.77% gain on Monday, Dogecoin ended the day at $0.2059.

A mixed the start of the day saw Dogecoin fall to an early morning intraday low $0.1951 before finding support.

Advertisement
Know where the Market is headed? Take advantage now with 

Trading Derivatives carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Derivatives may not be suitable for all investors, so please ensure that you fully understand the risks involved, and seek independent advice if necessary. A Product Disclosure Statement (PDS) can be obtained either from this website or on request from our offices and should be considered before entering into a transaction with us. Raw Spread accounts offer spreads from 0.0 pips with a commission charge of USD $3.50 per 100k traded. Standard account offer spreads from 1 pips with no additional commission charges. Spreads on CFD indices start at 0.4 points. The information on this site is not directed at residents in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

Steering clear of the first major support level at $0.1895, Dogecoin rallied to an early afternoon intraday high $0.2095.

Falling well short of the first major resistance level at $0.2255, however, Dogecoin slid back to sub-$0.20 levels before ending the day at $0.205 levels.

At the time of writing, Dogecoin was down by 1.21% to $0.2034. A mixed start to the day saw Dogecoin rise to an early morning high $0.2065 before falling to a low $0.2025.

Dogecoin left the major support and resistance levels untested early on.

For the day ahead

Dogecoin would need to move back through the $0.2035 pivot to bring the first major resistance level at $0.2119 into play.

Support from the broader market would be needed, however, for Dogecoin to break back through to $0.21 levels.

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 $0.22 levels before any pullback. The second major resistance level sits at $0.2179.

Failure to move back through the $0.2035 pivot would bring the first major support level at $0.1975 into play.

Barring an extended sell-off, however, Dogecoin should steer clear of sub-$0.19 levels. The second major support level sits at $0.1891.

Looking at the Technical Indicators

First Major Support Level: $0.1975

Pivot Level: $0.2035

First Major Resistance Level: $0.2119

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.

Thanks, Bob

Advertisement
Don't miss a thing!
Discover what's moving the markets. Sign up for a daily update delivered to your inbox

Trade With A Regulated Broker