Dogecoin – Daily Analysis & Forecast

Dogecoin fell by 3.71% on Monday. Reversing a 0.98% gain from Sunday, Dogecoin ended the day at $0.2079.

A mixed the start of the day saw Dogecoin rise to a mid-morning intraday high $0.2190 before hitting reverse.

Coming within range of the first major resistance level at $0.2198, Dogecoin slid to a late intraday low $0.2040.

Dogecoin fell through the first major support level at $0.2113 and the second major support level at $0.2068.

Steering clear of sub-$0.20 levels, however, Dogecoin moved back through the second major support level to end the day at $0.2070 levels.

At the time of writing, Dogecoin was down by 0.27% to $0.2073. A mixed start to the day saw Dogecoin fall to an early morning low $0.2058 before rising to a high $0.2081.

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

• For the day ahead

Dogecoin would need to move through the $0.2103 pivot to bring the first major resistance level at $0.2166 into play.

Support from the broader market would be needed, however, for Dogecoin to break back through to $0.2150 levels.

Barring an extended crypto rally, the first major resistance level and Mondays high $0.2190 would likely cap any upside.

In the event of a breakout, Dogecoin could test resistance at $0.23 levels before any pullback. The second major resistance level sits at $0.2253.

Failure to move through the $0.2103 pivot would bring the first major support level at $0.2016 into play.

Barring an extended sell-off, however, Dogecoin should steer clear of the second major support level at $0.1953.

• Looking at the Technical Indicators

First Major Support Level: $0.2016

Pivot Level: $0.2103

First Major Resistance Level: $0.2166

23.6% FIB Retracement Level: $0.3016

38.2% FIB Retracement Level: $0.3859

62% FIB Retracement Level: $0.5221

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