Dogecoin – Daily Tech Analysis –June 15th, 2021

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Published: Jun 15, 2021, 00:50 GMT+00:00

It's been a mixed start to the day. A move back through the day's pivot level and a return to $0.33 levels would support a run at the major resistance levels.

Dogecoin

Dogecoin rose by 1.11% on Monday. Following a 6.20% rally on Sunday, Dogecoin ended the day at $0.3275.

A bearish morning saw Dogecoin fall to a mid-day intraday low $0.3199 before making a move.

Steering clear of the first major support level at $0.3110, Dogecoin rallied to a late afternoon intraday high $0.3375.

Dogecoin broke through the first major resistance level at $0.3335 before a slide back to sub-$0.3210 levels.

Finding late support, however, Dogecoin move back through to $0.327 levels to deliver the upside on the day.

At the time of writing, Dogecoin was up by 0.23% to $0.3282. A mixed start to the day saw Dogecoin fall to an early morning low $0.3263 before rising to a high $0.3306.

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

For the day ahead

Dogecoin would need to move back through the $0.3283 pivot to bring the first major resistance level at $0.3367 into play.

Support from the broader market would be needed, however, for Dogecoin to break back through to $0.33 levels.

Barring an extended crypto rally, the first major resistance level and Monday’s high $0.3375 would likely cap any upside.

In the event of a breakout, Dogecoin could test resistance at $0.35 before any pullback. The second major resistance level sits at $0.3459.

Failure to move back through the $0.3283 pivot would bring the first major support level at $0.3191 into play.

Barring an extended sell-off, however, Dogecoin should steer clear of sub-$0.31 levels. The second major support level at $0.3107 should limit the downside.

A sustained fall through the 62% FIB of $0.2882 would form a near-term bearish trend from 8^th May’s swing hi $0.7427.

Looking at the Technical Indicators

First Major Support Level: $0.3191

Pivot Level: $0.3283

First Major Resistance Level: $0.3367

23.6% FIB Retracement Level: $0.5691

38.2% FIB Retracement Level: $0.4618

62% FIB Retracement Level: $0.2882

Please let us know what you think in the comments below.

Thanks, Bob

About the Author

Bob Masonauthor

With over 28 years of experience in the financial industry, Bob has worked with various global rating agencies and multinational banks. Currently he is covering currencies, commodities, alternative asset classes and global equities, focusing mostly on European and Asian markets.

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