Dogecoin – Daily Tech Analysis –July 1st, 2021

Dogecoin

Dogecoin fell by 3.61% on Wednesday. Reversing a 2.45% gain from Tuesday, Dogecoin ended the day at $0.2539.

A mixed start to the day saw Dogecoin rise to an early morning intraday high $0.2638 before hitting reverse.

Falling short of the first major resistance level at $0.2753, Dogecoin slid to a late afternoon intraday low $0.2377.

Dogecoin fell through the first major support level at $0.2520 and the second major support level at $0.2406.

Finding late support, however, Dogecoin broke back through the support levels to end the day at $0.2539.

At the time of writing, Dogecoin was down by 1.04% to $0.2512. A mixed start to the day saw Dogecoin rise to an early morning high $0.2540 before falling to a low $0.2506.

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

For the day ahead

Dogecoin would need to move back through the $0.2518 pivot to bring the first major resistance level at $0.2659 into play.

Support from the broader market would be needed, however, for Dogecoin to break back through to $0.2650 levels.

Barring an extended crypto rally, the first major resistance level and Wednesday’s high $0.2638 would likely cap any upside.

In the event of another breakout, Dogecoin could test resistance at $0.28 levels before any pullback. The second major resistance level sits at $0.2779.

Failure to move back through the $0.2518 pivot would bring the first major support level at $0.2398 into play.

Barring an extended sell-off, however, Dogecoin should steer clear of the second major support level at $0.2257.

Looking at the Technical Indicators

First Major Support Level: $0.2398

Pivot Level: $0.2518

First Major Resistance Level: $0.2659

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