Dogecoin – Daily Tech Analysis –July 12th, 2021


Dogecoin

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



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