Dogecoin – Daily Tech Analysis –July 12th, 2021



Dogecoin rose by 0.98% on Sunday. Partially reversing a 2.69% fall from Saturday, Dogecoin ended the week down by 12.38% to $0.2159.

A mixed the start of the day saw Dogecoin fall to an early morning intraday low $0.2107 before making a move.

Steering clear of the first major support level at $0.2062, Dogecoin rose to a late afternoon intraday high $0.2192.

Falling short of the first major resistance level at $0.2247, Dogecoin eased back to end the day at sub-$0.2160 levels.

At the time of writing, Dogecoin was down by 0.17% to $0.2156. A mixed start to the day saw Dogecoin rise to an early morning high $0.2162 before falling to a low $0.2145.

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

For the day ahead

Dogecoin would need to avoid a fall back through the $0.2153 pivot to bring the first major resistance level at $0.2198 into play.

Support from the broader market would be needed, however, for Dogecoin to break back through to $0.2190 levels.

Barring an extended crypto rally, the first major resistance level and Sunday’s high $0.2192 would likely cap any upside.

In the event of a breakout, Dogecoin could test resistance at $0.2250 levels before any pullback. The second major resistance level sits at $0.2238.

A fall back through the $0.2153 pivot would bring the first major support level at $0.2113 into play.

Barring an extended sell-off, however, Dogecoin should steer clear of sub $0.20 levels. The second major support level at $0.2068 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $0.2113

Pivot Level: $0.2153

First Major Resistance Level: $0.2198

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


Source link


Please enter your comment!
Please enter your name here