Dogecoin – Daily Tech Analysis – July 19th, 2021



Dogecoin slid by 3.15% on Sunday. Partially reversing a 9.01% rally from Saturday, Dogecoin ended the week down by 15.90% to $0.1816.

A bullish the start of the day saw Dogecoin rally to an early morning intraday high $0.1960 before hitting reverse.

Falling short of the first major resistance level at $0.2056, Dogecoin slid to a final hour intraday low $0.1803.

Steering clear of the first major support level at $0.1691, Dogecoin ended the day at $0.181 levels.

At the time of writing, Dogecoin was down by 1.22% to $0.1794. A mixed start to the day saw Dogecoin rise to an early morning high $0.1843 before falling to a low $0.1789.

Dogecoin left the major support and resistance levels untested early on.

For the day ahead

Dogecoin would need to move through the $0.1860 pivot to bring the first major resistance level at $0.1916 into play.

Support from the broader market would be needed, however, for Dogecoin to move back through to $0.19 levels.

Barring an extended crypto rally, the first major resistance level and Sunday’s high $0.1960 would likely cap any upside.

In the event of a breakout, Dogecoin could test resistance at $0.20 levels before any pullback. The second major resistance level sits at $0.2017.

Failure to move through the $0.1860 pivot would bring the first major support level at $0.1759 back into play.

Barring another extended sell-off, however, Dogecoin should steer clear of sub-$0.17 levels. The second major support level at $0.1703 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $0.1759

Pivot Level: $0.1860

First Major Resistance Level: $0.1916

23.6% FIB Retracement Level: $0.3016

38.2% FIB Retracement Level: $0.3859

62% FIB Retracement Level: $0.5221

Please let us know what you think in the comments below.

Thanks, Bob

This article was originally posted on FX Empire


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