FXEMPIRE
All
Ad
Advertisement
Advertisement
Bob Mason
Add to Bookmarks
Gold red bitcoin coin

Dogecoin

Dogecoin rallied by 19.43% on Monday. Reversing a 10.24% slide from Sunday, Dogecoin ended the day at $0.3664.

A mixed start to the day saw Dogecoin fall to an early morning intraday low $0.2956 before making a move.

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 62% FIB of $0.2882 and the first major support level at $0.2527, Dogecoin rallied to a late intraday high $0.3760.

Dogecoin broke through the first major resistance level at $0.3560 to end the day at $0.36 levels.

At the time of writing, Dogecoin was down by 1.40% to $0.3613. A mixed start to the day saw Dogecoin rise to an early morning high $0.3807 before falling to a low $0.3557.

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

For the day ahead

Dogecoin would need to avoid the $0.3460 pivot to bring the first major resistance level at $0.3964 into play.

Support from the broader market would be needed, however, for Dogecoin to break out from the morning high $0.3807.

Barring an extended crypto rally, the first major resistance level and resistance at $0.40 would likely cap any upside.

In the event of a broad-based crypto rebound, Dogecoin could test the second major resistance level at $0.4264.

Failure to avoid the $0.3460 pivot would bring the first major support level at $0.3160 into play.

Barring another extended sell-off, however, Dogecoin should steer clear of the 62% FIB of $0.2882. The second major support level sits at $0.2656.

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

Looking at the Technical Indicators

First Major Support Level: $0.3160

Pivot Level: $0.3460

First Major Resistance Level: $0.3964

23.6% FIB Retracement Level: $0.5691

38.2% FIB Retracement Level: $0.4618

62% FIB Retracement Level: $0.2882

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