Dogecoin – Daily Tech Analysis –July 28th, 2021

·2 min read

Dogecoin

Dogecoin rose by 1.08% on Tuesday. Following a 2.77% gain on Monday, Dogecoin ended the day at $0.2059.

A mixed the start of the day saw Dogecoin fall to an early morning intraday low $0.1951 before finding support.

Steering clear of the first major support level at $0.1895, Dogecoin rallied to an early afternoon intraday high $0.2095.

Falling well short of the first major resistance level at $0.2255, however, Dogecoin slid back to sub-$0.20 levels before ending the day at $0.205 levels.

At the time of writing, Dogecoin was down by 1.21% to $0.2034. A mixed start to the day saw Dogecoin rise to an early morning high $0.2065 before falling to a low $0.2025.

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

For the day ahead

Dogecoin would need to move back through the $0.2035 pivot to bring the first major resistance level at $0.2119 into play.

Support from the broader market would be needed, however, for Dogecoin to break back through to $0.21 levels.

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 $0.22 levels before any pullback. The second major resistance level sits at $0.2179.

Failure to move back through the $0.2035 pivot would bring the first major support level at $0.1975 into play.

Barring an extended sell-off, however, Dogecoin should steer clear of sub-$0.19 levels. The second major support level sits at $0.1891.

Looking at the Technical Indicators

First Major Support Level: $0.1975

Pivot Level: $0.2035

First Major Resistance Level: $0.2119

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

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