Dogecoin rose by 2.39% on Tuesday. Partially reversing a 3.31% fall from Monday, Dogecoin ended the month up by 33.93% to $0.2784.
A mixed start to the day saw Dogecoin fall to an early morning intraday low $0.2698 before making a move.
Steering clear of the first major support level at $0.2643, Dogecoin rallied to a late afternoon intraday high $0.2860.
Coming up against the first major resistance level at $0.2850, Dogecoin eased back to end the day at sub-$0.28 levels.
At the time of writing, Dogecoin was down by 1.15% to $0.2752. A mixed start to the day saw Dogecoin rise to an early morning high $0.2796 before falling to a low $0.2751.
Dogecoin left the major support and resistance levels untested early on.
For the day ahead
Dogecoin would need to move back through the $0.2781 pivot to bring the first major resistance level at $0.2863 into play.
Support from the broader market would be needed, however, for Dogecoin to break back through to $0.28 levels.
Barring an extended crypto rally, the first major resistance level and Tuesday’s high $0.2860 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 $0.2943.
Failure to move back through the $0.2781 would bring the first major support level at $0.2701 into play.
Barring another extended sell-off, however, Dogecoin should steer clear of sub-$0.26 levels. The second major support level at $0.2619 should limit the downside.
Looking at the Technical Indicators
First Major Support Level: $0.2701
Pivot Level: $0.2781
First Major Resistance Level: $0.2863
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
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