Dogecoin – Daily Tech Analysis – July 19th, 2021It’s a bearish start to the day for Dogecoin. Failure to move through the day’s pivot and back through to $0.19 levels would leave Dogecoin in the deep red on the day.
Dogecoin slid by 3.15% on Sunday. Partially reversing a 9.01% rally from Saturday, Dogecoin ended the week down by 15.90% to $0.1816.
A bullish the start of the day saw Dogecoin rally to an early morning intraday high $0.1960 before hitting reverse.
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Falling short of the first major resistance level at $0.2056, Dogecoin slid to a final hour intraday low $0.1803.
Steering clear of the first major support level at $0.1691, Dogecoin ended the day at $0.181 levels.
At the time of writing, Dogecoin was down by 1.22% to $0.1794. A mixed start to the day saw Dogecoin rise to an early morning high $0.1843 before falling to a low $0.1789.
Dogecoin left the major support and resistance levels untested early on.
For the day ahead
Dogecoin would need to move through the $0.1860 pivot to bring the first major resistance level at $0.1916 into play.
Support from the broader market would be needed, however, for Dogecoin to move back through to $0.19 levels.
Barring an extended crypto rally, the first major resistance level and Sunday’s high $0.1960 would likely cap any upside.
In the event of a breakout, Dogecoin could test resistance at $0.20 levels before any pullback. The second major resistance level sits at $0.2017.
Failure to move through the $0.1860 pivot would bring the first major support level at $0.1759 back into play.
Barring another extended sell-off, however, Dogecoin should steer clear of sub-$0.17 levels. The second major support level at $0.1703 should limit the downside.
Looking at the Technical Indicators
First Major Support Level: $0.1759
Pivot Level: $0.1860
First Major Resistance Level: $0.1916
23.6% FIB Retracement Level: $0.3016
38.2% FIB Retracement Level: $0.3859
62% FIB Retracement Level: $0.5221
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