Dogecoin rose by 1.43% on Tuesday. Partially reversing a 6.21% slide from Monday, Dogecoin ended the day at $0.2344.
After a mixed the start of the day, Dogecoin rose to an early morning intraday high $0.2421 before hitting reverse.
Falling short of the first major resistance level at $0.2432, Dogecoin slid to a late afternoon intraday low $0.2294.
Steering clear of the first major support level at $0.2225, however, Dogecoin moved back through to $0.23 levels and into the green.
At the time of writing, Dogecoin was down by 0.54% to $0.2331. A mixed start to the day saw Dogecoin rise to an early morning high $0.2355 before falling to a low $0.2324.
Dogecoin left the major support and resistance levels untested early on.
For the day ahead
Dogecoin would need to move back through the $0.2353 pivot to bring the first major resistance level at $0.2412 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 Tuesday’s high $0.2421 would likely cap any upside.
In the event of a breakout, Dogecoin could test resistance at $0.25 levels before any pullback. The second major resistance level sits at $0.2480.
Failure to move back through the $0.2353 pivot would bring the first major support level at $0.2285 into play.
Barring another extended sell-off, however, Dogecoin should steer clear of sub $0.21 levels. The second major support level at $0.2226 should limit the downside.
Looking at the Technical Indicators
First Major Support Level: $0.2285
Pivot Level: $0.2353
First Major Resistance Level: $0.2412
23.6% FIB Retracement Level: $0.3016
38.2% FIB Retracement Level: $0.3859
62% FIB Retracement Level: $0.5221
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This article was originally posted on FX Empire