Dogecoin – Daily Tech Analysis –July 26th, 2021
Dogecoin rose by 0.56% on Sunday. Following a 1.13% gain on Saturday, Dogecoin ended the week up by 9.13% to $0.1982.
A mixed the start of the day saw Dogecoin fall to an early morning intraday low $0.1982 before finding support.
Steering clear of the first major support level at $0.1907, Dogecoin rallied to a late morning intraday high $0.2009.
Falling short of the first major resistance level at $0.2040, Dogecoin fell back to $0.192 levels before a late move back into positive territory.
At the time of writing, Dogecoin was up by 2.33% to $0.2028. A mixed start to the day saw Dogecoin fall to an early morning low $0.1971 before rising to a high $0.2030.
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 $0.1993 pivot to bring the first major resistance level at $0.2074 into play.
Support from the broader market would be needed, however, for Dogecoin to break out from this morning’s high $0.2030.
Barring an extended crypto rally, the first major resistance level and Sunday’s high $0.2085 would likely cap any upside.
In the event of another breakout, Dogecoin could test resistance at $0.22 levels before any pullback. The second major resistance level sits at $0.2166.
A fall back through the $0.1993 pivot would bring the first major support level at $0.1901 into play.
Barring another extended sell-off, however, Dogecoin should steer clear of sub-$0.19 levels. The second major support level sits at $0.1820.
Looking at the Technical Indicators
First Major Support Level: $0.1901
Pivot Level: $0.1993
First Major Resistance Level: $0.2074
23.6% FIB Retracement Level: $0.3016
38.2% FIB Retracement Level: $0.3859
62% FIB Retracement Level: $0.5221
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