2021-09-26 08:00:00

Dogecoin – Daily Tech Analysis – September 27th, 2021

Dogecoin fell by 1.63% on Sunday. Following a 0.38% decline on Saturday, Dogecoin ended the week down by 11.98% to $0.2051.

A mixed start to the day saw Dogecoin rise to an early morning intraday high $0.2090 before hitting reverse.

Falling short of the first major resistance level at $0.2126, Dogecoin slid to a late morning intraday low $0.1942.

Dogecoin fell through the first major support level at $0.2044 and the second major support level at $0.2004.

Steering clear of the third major support level at $0.1922, Dogecoin revisited $0.208 levels before falling back into the red. In spite of the late pullback Dogecoin avoided the major support levels.

At the time of writing, Dogecoin was up by 0.39% to $0.2059. A mixed start to the day saw Dogecoin fall to an early morning low $0.2033 before rising to a high $0.2061.

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

For the day ahead

Dogecoin would need to avoid the $0.2028 pivot to bring the first major resistance level at $0.2113 into play.

Support from the broader market would be needed, however, for Dogecoin to break out from Sunday’s high $0.2090.

Barring an extended crypto rally, the first major resistance level 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 $0.2176.

A fall through $0.2028 pivot would bring the first major support level at $0.1965 into play.

Barring another extended sell-off, however, Dogecoin should avoid sub-$0.19 levels. The second major support level sits at $0.1880.

Looking at the Technical Indicators

First Major Support Level: $0.1965

Pivot Level: $0.2028

First Major Resistance Level: $0.2113

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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