Dogecoin – Daily Tech Analysis –July 27th, 2021

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Published: Jul 27, 2021, 01:16 UTC

It's been a mixed start to the day for Dogecoin. Failure to move through the day's pivot would leave support levels in play.

Dogecoin

Dogecoin rose by 2.77% on Monday. Following a 0.56% gain on Sunday, Dogecoin ended the day at $0.2037.

A mixed the start of the day saw Dogecoin fall to an early morning intraday low $0.1971 before finding support.

Steering clear of the first major support level at $0.1901, Dogecoin rallied to a mid-morning intraday high $0.2331.

Dogecoin broke through the first major resistance level at $0.2074 and the second major resistance level at $0.2166.

Coming up against the third major resistance level at $0.2339, however, Dogecoin slid back to $0.2004 levels before ending the day at $0.203 levels.

The pullback saw Dogecoin fall back through the first and second major resistance levels.

At the time of writing, Dogecoin was down by 0.22% to $0.2032. A mixed start to the day saw Dogecoin rise to an early morning high $0.2051 before falling to a low $0.2012.

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

For the day ahead

Dogecoin would need to move through the $0.2113 pivot to bring the first major resistance level at $0.2255 into play.

Support from the broader market would be needed, however, for Dogecoin to break back through to $0.22 levels.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

In the event of another breakout, Dogecoin could test resistance at $0.25 levels before any pullback. The second major resistance level sits at $0.2473.

Failure to move through the $0.2113 pivot would bring the first major support level at $0.1895 into play.

Barring another extended sell-off, however, Dogecoin should steer clear of sub-$0.18 levels. The second major support level sits at $0.1753.

Looking at the Technical Indicators

First Major Support Level: $0.1895

Pivot Level: $0.2113

First Major Resistance Level: $0.2255

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

About the Author

Bob Masonauthor

With over 20 years of experience in the finance industry, Bob has been managing regional teams across Europe and Asia and focusing on analytics across both corporate and financial institutions. Currently he is covering developments relating to the financial markets, including currencies, commodities, alternative asset classes, and global equities.