Dogecoin – Daily Tech Analysis – September 6th, 2021


Dogecoin

Dogecoin rose by 5.08% on Sunday. Following a 1.05% gain on Saturday, Dogecoin ended the week up by 11.94% to $0.3147.

A mixed start to the day saw Dogecoin fall to an early morning intraday low $0.2966 before making a move.

Steering clear of the first major support level at $0.2922, Dogecoin rallied to a late intraday high $0.3162.

Dogecoin broke through the 23.6% FIB of $0.3016 and the first major resistance level at $0.3078.

Coming up against the second major resistance level at $0.3161, Dogecoin eased back to end the day at $0.314 levels.

At the time of writing, Dogecoin was up by 0.15% to $0.3152. A mixed start to the day saw Dogecoin fall to an early morning low $0.3144 before rising to a high $0.3163.

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

For the day ahead

Dogecoin would need to avoid the $0.3092 pivot to bring the first major resistance level at $0.3217 into play.

Support from the broader market would be needed, however, for Dogecoin to break through to $0.32 levels.

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

In the event of a breakout, Dogecoin could test resistance at $0.33 levels before any pullback. The second major resistance level sits at $0.3288.

A fall through the $0.3092 pivot would bring the first major support level at $0.3021 and the 23.6% FIB of $0.3016 into play.

Barring an extended sell-off, however, Dogecoin should avoid sub-$0.29 levels. The second major support level sits at $0.2896.

Looking at the Technical Indicators

First Major Support Level: $0.3021

Pivot Level: $0.3092

First Major Resistance Level: $0.3217

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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