Dogecoin – Daily Tech Analysis –July 12th, 2021It’s been a mixed start to the day for Dogecoin. A fall back through the day’s pivot would bring support levels into play.
Dogecoin rose by 0.98% on Sunday. Partially reversing a 2.69% fall from Saturday, Dogecoin ended the week down by 12.38% to $0.2159.
A mixed the start of the day saw Dogecoin fall to an early morning intraday low $0.2107 before making a move.
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Steering clear of the first major support level at $0.2062, Dogecoin rose to a late afternoon intraday high $0.2192.
Falling short of the first major resistance level at $0.2247, Dogecoin eased back to end the day at sub-$0.2160 levels.
At the time of writing, Dogecoin was down by 0.17% to $0.2156. A mixed start to the day saw Dogecoin rise to an early morning high $0.2162 before falling to a low $0.2145.
Dogecoin left the major support and resistance levels untested early on.
For the day ahead
Dogecoin would need to avoid a fall back through the $0.2153 pivot to bring the first major resistance level at $0.2198 into play.
Support from the broader market would be needed, however, for Dogecoin to break back through to $0.2190 levels.
Barring an extended crypto rally, the first major resistance level and Sunday’s high $0.2192 would likely cap any upside.
In the event of a breakout, Dogecoin could test resistance at $0.2250 levels before any pullback. The second major resistance level sits at $0.2238.
A fall back through the $0.2153 pivot would bring the first major support level at $0.2113 into play.
Barring an extended sell-off, however, Dogecoin should steer clear of sub $0.20 levels. The second major support level at $0.2068 should limit the downside.
Looking at the Technical Indicators
First Major Support Level: $0.2113
Pivot Level: $0.2153
First Major Resistance Level: $0.2198
23.6% FIB Retracement Level: $0.3016
38.2% FIB Retracement Level: $0.3859
62% FIB Retracement Level: $0.5221
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