Dogecoin – Daily Tech Analysis –July 21st, 2021



Dogecoin fell by 1.84% on Tuesday. Following a 4.41% slide on Monday, Dogecoin ended the day at $0.1704.

A mixed the start of the day saw Dogecoin slide to a late morning intraday low $0.1598 before finding support.

Dogecoin fell through the first major support level at $0.1679 and the second major support level at $0.1622.

Steering clear of sub-$0.15 levels, Dogecoin rallied to a late afternoon intraday high $0.1802 before sliding back into the red.

The first major resistance level at $0.1818 pinned Dogecoin back on the day.

At the time of writing, Dogecoin was up by 0.22% to $0.1708. A mixed start to the day saw Dogecoin fall to an early morning low $0.1697 before rising to a high $0.1739.

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 $0.1701 pivot to bring the first major resistance level at $0.1805 into play.

Support from the broader market would be needed, however, for Dogecoin to move back through to $0.18 levels.

Barring an extended crypto rally, the first major resistance level and Tuesday’s high $0.1802 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 $0.1905.

A fall back through the $0.1701 pivot would bring the first major support level at $0.1601 into play.

Barring another extended sell-off, however, Dogecoin should steer clear of sub-$0.15 levels. The second major support level sits at $0.1497.

Looking at the Technical Indicators

First Major Support Level: $0.1601

Pivot Level: $0.1701

First Major Resistance Level: $0.1805

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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