Bob Mason
Add to Bookmarks
Gold red bitcoin coin


Dogecoin slumped by 36.3% on Monday. Following a 1.93% decline on Sunday, Dogecoin ended the day at $0.1785.

A mixed start to the day saw Dogecoin rise to an early morning high $0.2811 before hitting reverse.

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.

Falling short of the 62% FIB of $0.2882 and the first major resistance level at $0.2948, Dogecoin slid to a late intraday low and a new swing lo $0.1653.

The extended sell-off saw Dogecoin fall through the day’s major support levels to end the day at sub-$0.18 levels.

At the time of writing, Dogecoin was down by 0.57% to $0.1775. A mixed start to the day saw Dogecoin rise to an early morning high $0.1821 before falling to a low $0.1656.

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

For the day ahead

Dogecoin would need to move through the $0.2083 pivot to bring the first major resistance level at $0.2513 into play.

Support from the broader market would be needed, however, for Dogecoin to break out from $0.20 levels.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

In the event of a breakout, Dogecoin could test resistance at the 23.6% FIB of $0.3016 before any pullback. The second major resistance level sits at $0.3241.

Failure to move through the $0.2083 pivot would bring the first major support level at $0.1355 into play.

Barring another extended sell-off, however, Dogecoin should steer clear of sub-$0.10 levels. The second major support level sits at $0.0925.

A sustained fall through the 62% FIB of $0.2882 led to the formation of a near-term bearish trend from 8th May’s swing hi $0.7427.

Looking at the Technical Indicators

First Major Support Level: $0.1355

Pivot Level: $0.2083

First Major Resistance Level: $0.2513

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

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