Dogecoin – Daily Tech Analysis – September 22nd, 2021


Dogecoin

Dogecoin fell by 3.69% on Tuesday. Following a 10.43% slide on Monday, Dogecoin ended the day at $0.2009.

A choppy start to the day saw Dogecoin fall to an early morning low $0.1988 before making a move.

Steering clear of the first major support level at $0.1940, Dogecoin rose to a late morning intraday high $0.2185.

Falling short of the first major resistance level at $0.2285, however, Dogecoin slid to a late intraday low $0.1978.

Continuing to steer clear of the major support levels, Dogecoin moved back through to $0.20 levels to reduce the deficit.

At the time of writing, Dogecoin was down by 0.45% to $0.19996. A mixed start to the day saw Dogecoin rise to an early morning high $0.2050 before falling to a low $0.19989.

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

For the day ahead

Dogecoin would need to move through the $0.2057 pivot to bring the first major resistance level at $0.2137 into play.

Support from the broader market would be needed, however, for Dogecoin to break back through to $0.21 levels.

Barring an extended crypto rally, the first major resistance level and Tuesday’s high $0.2185 would likely cap the upside

In the event of a broad-based crypto rally, Dogecoin could test resistance at $0.23 levels before any pullback. The second major resistance level sits at $0.2264.

Failure to move through $0.2057 pivot would bring the first major support level at $0.1930 into play.

Barring another extended sell-off, however, Dogecoin should avoid sub-$0.19 levels. The second major support level sits at $0.1850.

Looking at the Technical Indicators

First Major Support Level: $0.1930

Pivot Level: $0.2057

First Major Resistance Level: $0.2137

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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