Dogecoin – Daily Tech Analysis –July 21st, 2021
Dogecoin fell by 1.84% on Tuesday. Following a 4.41% slide on Monday, Dogecoin ended the day at $0.1704.
A mixed the start of the day saw Dogecoin slide to a late morning intraday low $0.1598 before finding support.
Dogecoin fell through the first major support level at $0.1679 and the second major support level at $0.1622.
Steering clear of sub-$0.15 levels, Dogecoin rallied to a late afternoon intraday high $0.1802 before sliding back into the red.
The first major resistance level at $0.1818 pinned Dogecoin back on the day.
At the time of writing, Dogecoin was up by 0.22% to $0.1708. A mixed start to the day saw Dogecoin fall to an early morning low $0.1697 before rising to a high $0.1739.
Dogecoin left the major support and resistance levels untested early on.
For the day ahead
Dogecoin would need to avoid a fall back through the $0.1701 pivot to bring the first major resistance level at $0.1805 into play.
Support from the broader market would be needed, however, for Dogecoin to move back through to $0.18 levels.
Barring an extended crypto rally, the first major resistance level and Tuesday’s high $0.1802 would likely cap any upside.
In the event of a breakout, Dogecoin could test resistance at $0.20 levels before any pullback. The second major resistance level sits at $0.1905.
A fall back through the $0.1701 pivot would bring the first major support level at $0.1601 into play.
Barring another extended sell-off, however, Dogecoin should steer clear of sub-$0.15 levels. The second major support level sits at $0.1497.
Looking at the Technical Indicators
First Major Support Level: $0.1601
Pivot Level: $0.1701
First Major Resistance Level: $0.1805
23.6% FIB Retracement Level: $0.3016
38.2% FIB Retracement Level: $0.3859
62% FIB Retracement Level: $0.5221
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This article was originally posted on FX Empire
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