U.S. Markets closed
  • Crude Oil

    70.51
    -0.05 (-0.07%)
     
  • Gold

    1,778.60
    +0.40 (+0.02%)
     
  • Silver

    22.53
    -0.04 (-0.17%)
     
  • EUR/USD

    1.1723
    -0.0007 (-0.0586%)
     
  • 10-Yr Bond

    1.3240
    +0.0150 (+1.15%)
     
  • Vix

    24.36
    -1.35 (-5.25%)
     
  • GBP/USD

    1.3651
    -0.0013 (-0.0983%)
     
  • USD/JPY

    109.4680
    +0.2480 (+0.2271%)
     
  • BTC-USD

    44,590.88
    -3,435.44 (-7.15%)
     
  • CMC Crypto 200

    1,043.25
    -20.59 (-1.94%)
     
  • FTSE 100

    6,980.98
    +77.07 (+1.12%)
     
  • Nikkei 225

    29,679.40
    -160.31 (-0.54%)
     

Dogecoin – Daily Tech Analysis –July 7th, 2021

·2 min read

Dogecoin

Dogecoin rose by 1.43% on Tuesday. Partially reversing a 6.21% slide from Monday, Dogecoin ended the day at $0.2344.

After a mixed the start of the day, Dogecoin rose to an early morning intraday high $0.2421 before hitting reverse.

Falling short of the first major resistance level at $0.2432, Dogecoin slid to a late afternoon intraday low $0.2294.

Steering clear of the first major support level at $0.2225, however, Dogecoin moved back through to $0.23 levels and into the green.

At the time of writing, Dogecoin was down by 0.54% to $0.2331. A mixed start to the day saw Dogecoin rise to an early morning high $0.2355 before falling to a low $0.2324.

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

For the day ahead

Dogecoin would need to move back through the $0.2353 pivot to bring the first major resistance level at $0.2412 into play.

Support from the broader market would be needed, however, for Dogecoin to break back through to $0.24 levels.

Barring an extended crypto rally, the first major resistance level and Tuesday’s high $0.2421 would likely cap any upside.

In the event of a breakout, Dogecoin could test resistance at $0.25 levels before any pullback. The second major resistance level sits at $0.2480.

Failure to move back through the $0.2353 pivot would bring the first major support level at $0.2285 into play.

Barring another extended sell-off, however, Dogecoin should steer clear of sub $0.21 levels. The second major support level at $0.2226 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $0.2285

Pivot Level: $0.2353

First Major Resistance Level: $0.2412

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

This article was originally posted on FX Empire

More From FXEMPIRE: