Dogecoin – Daily Tech Analysis – September 28th, 2021
Dogecoin fell by 2.63% on Monday. Following a 1.63% loss on Sunday, Dogecoin ended the day at $0.1997.
A mixed start to the day saw Dogecoin rise to an early morning intraday high $0.2095 before hitting reverse.
Falling short of the first major resistance level at $0.2113, Dogecoin slid to a late intraday low $0.1996.
Steering clear of the first major support level at $0.1965, however, Dogecoin ended the day at $0.1997.
At the time of writing, Dogecoin was up by 0.12% to $0.19996. A mixed start to the day saw Dogecoin fall to an early morning low $0.1985 before rising to a high $0.2017.
Dogecoin left the major support and resistance levels untested early on.
For the day ahead
Dogecoin would need to move through the $0.2029 pivot to bring the first major resistance level at $0.2063 into play.
Support from the broader market would be needed, however, for Dogecoin to break out from $0.2050 levels.
Barring an extended crypto rally, the first major resistance level and Monday’s high $0.2095 would likely cap the upside
In the event of a broad-based crypto rally, Dogecoin could test resistance at $0.22 levels before any pullback. The second major resistance level sits at $0.2128.
Failure to move through $0.2029 pivot would bring the first major support level at $0.1964 into play.
Barring another extended sell-off, however, Dogecoin should avoid sub-$0.19 levels. The second major support level at $0.1930 should limit the downside.
Looking at the Technical Indicators
First Major Support Level: $0.1964
Pivot Level: $0.2029
First Major Resistance Level: $0.2063
23.6% FIB Retracement Level: $0.3016
38.2% FIB Retracement Level: $0.3859
62% FIB Retracement Level: $0.5221
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