Dogecoin Tech Analysis – May 26

The crypto market has had drastic dips over the past weeks. Most cryptocurrencies declined in value by almost a half. However, as much as the total market price is still down, some digital coins promise to rise again.

On Tuesday, Dogecoin, the internet meme currency, declined by 5.43%. The 19.43% Monday rally ensured a partial reverse, and DOGE ended Tuesday trading at $0.3465.

On early Wednesday, Dogecoin shows a bullish trend, having a high intraday of $0.3807 before a slight decline came in place.

Dogecoin decline in the late morning with a lower intraday, $0.3226, after falling off from the $0.3964 first resistance level.

However, the virtual coin had clear navigation of the $0.3160 support level. Afterward, Dogecoin revisited the $0.35 area before falling back.

While writing this article, Dogecoin is $0.3160 low, a 1.15% decline. Wednesday seems to be a mixed start in the DOGE market as the asset rose to $0.3492 high in the early morning before declining to $0.3392 low.

Keep in mind that early on, DOGE left the resistance and support levels untested.

Dogecoin’s Day Ahead

To reach the $0.3773 major resistance, the virtual coin may have to go through the pivot, $0.3499.

Will Dogecoin achieve the $0.3750 levels? Well, that may necessitate broader market support.

Excluding the extended cryptocurrency rally, Tuesday’s $0.3807 high and first resistance level would probably capitalize on any upward trend.

In scenarios of broad-based cryptocurrency rebound, the meme coin could test the $0.4080 resistance level.

However, the coin might experience $0.3192 as the first support if fail to achieve the $0.3499 pivot.

However, in events of another extended bear market, the virtual coin should steer of $0.30 sub levels. The second support area sits at around $0.2918.

Any sustained decline through FIB 62% of $0.2882 would result in a short-term bearish attitude.

Technical Indicators

1st Major Support Level – $0.3192

Pivot Level – $0.3499

1st Major Resistance Level – $0.3773

23.6% Fibonacci Retracement Level – $0.5691

38.2% Fibonacci Retracement Level – $0.4618

62% Fibonacci Retracement Level – $0.2882

Use our comment section to voice your opinions on what Dogecoin has and what we may expect in the near term.