Dogecoin – Daily Tech Analysis – September 29th, 2021


Dogecoin

Dogecoin fell by 1.55% on Tuesday. Following a 2.63% loss on Monday, Dogecoin ended the day at $0.1966.

A mixed start to the day saw Dogecoin rise to a late morning intraday high $0.2027 before hitting reverse.

Falling short of the first major resistance level at $0.2113, Dogecoin slid to a final hour intraday low $0.1961.

Finding support at the first major support level at $0.1964, Dogecoin ended the day at $0.1966.

At the time of writing, Dogecoin was up by 0.03% to $0.1966. A mixed start to the day saw Dogecoin fall to an early morning low $0.1946 before rising to a high $0.1983.

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

For the day ahead

Dogecoin would need to move through the $0.1985 pivot to bring the first major resistance level at $0.2008 into play.

Support from the broader market would be needed, however, for Dogecoin to break back through to $0.20 levels.

Barring an extended crypto rally, the first major resistance level and Tuesday’s high $0.2027 would likely cap the upside

In the event of a broad-based crypto rally, Dogecoin could test resistance at $0.21 levels before any pullback. The second major resistance level sits at $0.2051.

Failure to move through $0.1985 pivot would bring the first major support level at $0.1942 into play.

Barring another extended sell-off, however, Dogecoin should avoid sub-$0.19 levels. The second major support level at $0.1919 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $0.1942

Pivot Level: $0.1985

First Major Resistance Level: $0.2008

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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