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Dogecoin – Daily Tech Analysis –June 28th, 2021

By:
Bob Mason
Published: Jun 28, 2021, 01:02 UTC

After a bullish end to a bearish week, the Dogecoin bulls will be eyeing a return to $0.30 levels. Avoiding a fall through the pivot will be key, however.

Top view of Dogecoin cryptocurrency physical coin

Dogecoin

Dogecoin rallied by 7.69% on Sunday. Following a 3.49% gain from Saturday, Dogecoin ended the week down by 5.54% to $0.2647.

A mixed start to the day saw Dogecoin fall to a late morning intraday low $0.2403 before making a move.

Steering clear of the first major support level at $0.2326, Dogecoin rallied to a final hour intraday high $0.2676.

Dogecoin broke through the first major resistance level at $0.2572 to end the day at $0.264 levels.

At the time of writing, Dogecoin was down by 1.64% to $0.2604. A mixed start to the day saw Dogecoin rise to an early morning high $0.2673 before falling to a low $0.2575.

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

DOGEUSD 280621 Hourly Chart

For the day ahead

Dogecoin would need to avoid a fall through the $0.2575 pivot to bring the first major resistance level at $0.2748 into play.

Support from the broader market would be needed, however, for Dogecoin to break out from Sunday’s high $0.2676.

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 the 23.6% FIB of $0.3016 before any pullback. The second major resistance level sits at $0.2848.

A fall through the $0.2575 pivot would bring the first major support level at $0.2475 into play.

Barring an extended sell-off, however, Dogecoin should steer clear of the second major support level at $0.2302.

Looking at the Technical Indicators

First Major Support Level: $0.2475

Pivot Level: $0.2575

First Major Resistance Level: $0.2748

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.

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