Dogecoin – Daily Tech Analysis – September 23rd, 2021

Bob Mason
Published: Sep 23, 2021, 00:46 UTC

Following Wednesday's rebound, a move back through to $0.24 levels would bring $0.26 levels into play.

Gold red bitcoin coin


Dogecoin surged by 11.80% on Wednesday. Reversing a 3.69% loss from Tuesday, Dogecoin ended the day at $0.2246.

A mixed start to the day saw Dogecoin fall to an early morning intraday low $0.1999 before making a move.

Steering clear of the first major support level at $0.1930, Dogecoin rallied to a late morning intraday high $0.2306.

Dogecoin broke through the first major resistance level at $0.2137 and the second major resistance level at $0.2264.

A late pullback, however, saw Dogecoin fall back through the second major resistance level to end the day at sub-$0.225 levels.

At the time of writing, Dogecoin was down by 1.26% to $0.2218. A bearish start to the day saw Dogecoin fall from an early morning high $0.2246 to a low $0.2211.

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

DOGEUSD 230921 Hourly Chart

For the day ahead

Dogecoin would need to avoid the $0.2184 pivot to bring the first major resistance level at $0.2368 into play.

Support from the broader market would be needed, however, for Dogecoin to break out from Thursday’s high $0.2306.

Barring an extended crypto rally, the first major resistance level and resistance at $0.24 would likely cap the upside

In the event of a broad-based crypto rally, Dogecoin could test resistance at $0.26 levels before any pullback. The second major resistance level sits at $0.2491.

A fall through $0.2184 pivot would bring the first major support level at $0.2061 into play.

Barring another extended sell-off, however, Dogecoin should avoid sub-$0.20 levels. The second major support level sits at $0.1877.

Looking at the Technical Indicators

First Major Support Level: $0.2061

Pivot Level: $0.2184

First Major Resistance Level: $0.2368

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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