Dogecoin – Daily Tech Analysis –June 28th, 2021


Dogecoin rallied by 7.69% on Sunday. Following a 3.49% gain from Saturday, Dogecoin ended the week down by 5.54% to $0.2647.

A mixed start to the day saw Dogecoin fall to a late morning intraday low $0.2403 before making a move.

Steering clear of the first major support level at $0.2326, Dogecoin rallied to a final hour intraday high $0.2676.

Dogecoin broke through the first major resistance level at $0.2572 to end the day at $0.264 levels.

At the time of writing, Dogecoin was down by 1.64% to $0.2604. A mixed start to the day saw Dogecoin rise to an early morning high $0.2673 before falling to a low $0.2575.

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

For the day ahead

Dogecoin would need to avoid a fall through the $0.2575 pivot to bring the first major resistance level at $0.2748 into play.

Support from the broader market would be needed, however, for Dogecoin to break out from Sunday’s high $0.2676.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

In the event of another breakout, Dogecoin could test resistance at the 23.6% FIB of $0.3016 before any pullback. The second major resistance level sits at $0.2848.

A fall through the $0.2575 pivot would bring the first major support level at $0.2475 into play.

Barring an extended sell-off, however, Dogecoin should steer clear of the second major support level at $0.2302.

Looking at the Technical Indicators

First Major Support Level: $0.2475

Pivot Level: $0.2575

First Major Resistance Level: $0.2748

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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