A $0.23 return to prevent the red area today is essential after Sunday’s pullbacks.
Dogecoin
On Sunday, Dogecoin experienced a 3.48% loss, reversing Saturday’s 0.58% gains. With such price developments, Dogecoin ended last week at $0.2330. Unpredictable actions had the token rising to an early intraday high of $0.2415 before reverse moves appeared.
The failure to conquer the initial crucial resistance at $0.2465 had DOGE plunging towards the late lows of $0.2308. The altcoin breached the first support area near $0.2371 and the 2nd one at $0.2329. Meanwhile, a clear steer of the sub-$0.23 saw Dogecoin breaking through the 2nd support to end its trading day near $0.233.
While writing this content, Dogecoin trades on a 1.95% loss at $0.2284. Meanwhile, mixed early morning sessions saw the token climbing towards a $0.2334 high before plunging to $0.2254 lows. With the reactions, DOGE fell under its initial support area at $0.2287 on Monday morning.
Dogecoin’s Day Ahead
DOGE has to overcome the pivot point at $0.2351 to test the first critical resistance level standing at $0.2394. For now, the token required broader market support to keep away the initial support zone at $0.235.
Without a continuous cryptocurrency rally, the initial resistance at $0.2415 will prevent upsurges. However, if the coming sessions see bullishness dominating the overall market, the meme asset will rise to test the resistance located around $0.25 before pullbacks can surface. The 2nd massive resistance zone lies at $0.2458.
Failure to surge above the $0.2287 support will see the crypto dropping towards the support at $0.2244. Without a continuous sell-off, the alternative asset had to avoid sub-$0.22. Meanwhile, the 3rd support zone stands at $0.2137.
Remember, the meme coin has struggled to recover its losses due to inadequate catalysts to take the asset high. The asset requires lucrative developments to attract investors again. Do you think that the meme coin market will surge to a new high? What is essential for Dogecoin’s upsurges?
Technical Indicators
- Initial critical support area – $0.2287
- Initial critical resistance area – $0.2394
- Pivot point – $0.2351
- 6% Fibonacci retracement level – $0.3016
- 2% Fibonacci retracement zone – $0.3016
- 62% Fibonacci retracement zone – $0.5221
