On Sunday, Dogecoin saw a decline of 0.33%. On Saturday, it had seen a decline of 2.63%. As such, for Dogecoin, the week ended on $0.3201 which is a decrease of 1.55%.
Detailed Analysis Of Dogecoin
On the day, DOGE received a neutral start. However, in the early hours of the morning, it fell and hit a low of $0.2866. After that, it started making moves. It then found support at the $0.2897 level, which is the first point of major support. It then rose to reach an intraday high of $0.3110 by the middle of the morning.
After that, it could not continue to reach the level of $0.3173, the first point of major resistance. DOGE then declined again to below $0.30 levels until it found support again. The currency then revisited the $0.21 levels briefly. But it immediately declined and stayed in the red zone.
While the article was being written, DOGE prices had decreased by 0.60% resting at a value of $0.3002. The day’s mixed start saw the currency rise to a high of $0.3055 in the early hours of the morning before hitting the low of $0.2982. So far, the major resistance and support levels have been left untested.
Moving on, the currency will have to avoid falling back past the pivot of $0.2999. Only then will the resistance level of $0.3132, its first major one, come into play. However, it would need the wider market to support it to surge past the level of 0.31. Leaving aside an extended rally of cryptocurrencies, the first big level of resistance and the $0.3110 high of Sunday will possibly be the cap for any upside.
Failing to avoid this fall will bring the $0.2888 first major level of support back into play. However, leaving aside a prolonged sell-off, Dogecoin should be well above the level of $0.2755, its second major level of support.
