Dogecoin – Daily Tech Analysis – August 17th, 2021
Dogecoin slid by 6.11% on Monday. Partially reversing a 15.64% rally from Sunday, Dogecoin ended the day at $0.3194.
A mixed start to the day saw Dogecoin rise to a late morning intraday high $0.3520 before hitting reverse.
Falling short of the first major resistance level at $0.3645, Dogecoin slid to a late intraday low $0.3100.
Steering clear of the 23.6% FIB of $0.3016 and the first major support level at $0.3013, Dogecoin revisited $0.327 levels before easing back.
At the time of writing, Dogecoin was down by 1.20% to $0.3155. A mixed start to the day saw Dogecoin rose to an early morning high $0.3219 before falling to a low $0.3055.
Dogecoin left the major support and resistance levels untested early on.
For the day ahead
Dogecoin would need to move through the $0.3271 pivot to bring the first major resistance level at $0.3443 into play.
Support from the broader market would be needed, however, for Dogecoin to break back through to $0.34 levels.
Barring an extended crypto rally, the first major resistance level and Monday’s high $0.3520 would likely cap any upside.
In the event of another breakout, Dogecoin could test resistance at the 38.2% FIB of $0.3859. The second major resistance level sits at $0.3691.
Failure to move through the $0.3271 pivot would bring the first major support level at $0.3023 and the 23.6% FIB of $0.3016 into play.
Barring an extended sell-off, however, Dogecoin should steer clear of sub-$0.29 levels. The second major support level sits at $0.2851.
Looking at the Technical Indicators
First Major Support Level: $0.3023
Pivot Level: $0.3271
First Major Resistance Level: $0.3443
23.6% FIB Retracement Level: $0.3016
38.2% FIB Retracement Level: $0.3859
62% FIB Retracement Level: $0.5221
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