Dogecoin – Daily Tech Analysis –July 27th, 2021

Dogecoin

Dogecoin rose by 2.77% on Monday. Following a 0.56% gain on Sunday, Dogecoin ended the day at $0.2037.

A mixed the start of the day saw Dogecoin fall to an early morning intraday low $0.1971 before finding support.

Steering clear of the first major support level at $0.1901, Dogecoin rallied to a mid-morning intraday high $0.2331.

Dogecoin broke through the first major resistance level at $0.2074 and the second major resistance level at $0.2166.

Coming up against the third major resistance level at $0.2339, however, Dogecoin slid back to $0.2004 levels before ending the day at $0.203 levels.

The pullback saw Dogecoin fall back through the first and second major resistance levels.

At the time of writing, Dogecoin was down by 0.22% to $0.2032. A mixed start to the day saw Dogecoin rise to an early morning high $0.2051 before falling to a low $0.2012.

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

For the day ahead

Dogecoin would need to move through the $0.2113 pivot to bring the first major resistance level at $0.2255 into play.

Support from the broader market would be needed, however, for Dogecoin to break back through to $0.22 levels.

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 $0.25 levels before any pullback. The second major resistance level sits at $0.2473.

Failure to move through the $0.2113 pivot would bring the first major support level at $0.1895 into play.

Barring another extended sell-off, however, Dogecoin should steer clear of sub-$0.18 levels. The second major support level sits at $0.1753.

Looking at the Technical Indicators

First Major Support Level: $0.1895

Pivot Level: $0.2113

First Major Resistance Level: $0.2255

23.6% FIB Retracement Level: $0.3016

38.2% FIB Retracement Level: $0.3859

62% FIB Retracement Level: $0.5221

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Thanks, Bob

This article was originally posted on FX Empire

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