FXEMPIRE
All
Ad
Advertisement
Advertisement
Bob Mason
Add to Bookmarks
Dogecoin is a modern way of exchange and this crypto currency

Dogecoin

Dogecoin slid by 6.21% on Monday. Following a 0.04% decline on Sunday, Dogecoin ended the day at $0.2311.

Bearish from the start of the day, Dogecoin fell from an early morning intraday high $0.2466 to a late morning intraday low $0.2259.

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.

Dogecoin fell through the day’s major support levels before finding late morning support.

Through the afternoon, Dogecoin broke back through the third major support level at $0.2285 to revisit $0.236 levels.

A bearish end to the day, however, saw Dogecoin fall back to end the day at $0.231 levels.

At the time of writing, Dogecoin was up by 1.21% to $0.2339. A mixed start to the day saw Dogecoin fall to an early morning low $0.2308 before rising to a high $0.2349.

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

For the day ahead

Dogecoin would need to move back through the $0.2345 pivot to bring the first major resistance level at $0.2432 into play.

Support from the broader market would be needed, however, for Dogecoin to break back through to $0.24 levels.

Barring an extended crypto rally, the first major resistance level and Monday’s high $0.2466 would likely cap any upside.

In the event of a breakout, Dogecoin could test resistance at $0.26 levels before any pullback. The second major resistance level sits at $0.2552.

Failure to move back through the $0.2345 pivot would bring the first major support level at $0.2225 into play.

Barring another extended sell-off, however, Dogecoin should steer clear of sub $0.21 levels. The second major support level at $0.2138 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $0.2225

Pivot Level: $0.2345

First Major Resistance Level: $0.2432

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