A move back through to $0.2250 levels would bring $0.24 levels into play...
Dogecoin rose by 1.51% on Sunday. Partially reversing a 1.97% decline from Saturday, Dogecoin ended the week up by 8.19% to $0.2219.
A mixed start to the day saw Dogecoin fall to an early morning intraday low $0.2156 before making a move.
Steering clear of the first major support level at $0.2142, Dogecoin rallied to a late afternoon intraday high $0.2268.
Dogecoin broke through the first major resistance level at $0.2240 before a pullback to sub-0.2190 levels.
Finding late support, however, Dogecoin moved back through to $0.22 levels to deliver the upside on the day.
At the time of writing, Dogecoin was down by 1.23% to $0.2191. A bearish start to the day saw Dogecoin fall from an early morning high $0.2219 to a low $0.2187.
Dogecoin left the major support and resistance levels untested early on.
Dogecoin would need to move back through the $0.2214 pivot to bring the first major resistance level at $0.2273 into play.
Support from the broader market would be needed, however, for Dogecoin to break out from $0.2250 levels.
Barring an extended crypto rally, the first major resistance level and Sunday’s high $0.2268 would likely cap the upside
In the event of a broad-based crypto rally, Dogecoin could test resistance at $0.24 levels before any pullback. The second major resistance level sits at $0.2326.
Failure to move back through $0.2214 pivot would bring the first major support level at $0.2161 into play.
Barring another extended sell-off, however, Dogecoin should avoid sub-$0.21 levels. The second major support level at $0.2102 should limit the downside.
First Major Support Level: $0.2161
Pivot Level: $0.2214
First Major Resistance Level: $0.2273
23.6% FIB Retracement Level: $0.3016
38.2% FIB Retracement Level: $0.3859
62% FIB Retracement Level: $0.5221
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Thanks, Bob
With over 20 years of experience in the finance industry, Bob has been managing regional teams across Europe and Asia and focusing on analytics across both corporate and financial institutions. Currently he is covering developments relating to the financial markets, including currencies, commodities, alternative asset classes, and global equities.