Dogecoin – Daily Tech Analysis – September 23rd, 2021

Dogecoin

Dogecoin surged by 11.80% on Wednesday. Reversing a 3.69% loss from Tuesday, Dogecoin ended the day at $0.2246.

A mixed start to the day saw Dogecoin fall to an early morning intraday low $0.1999 before making a move.

Steering clear of the first major support level at $0.1930, Dogecoin rallied to a late morning intraday high $0.2306.

Dogecoin broke through the first major resistance level at $0.2137 and the second major resistance level at $0.2264.

A late pullback, however, saw Dogecoin fall back through the second major resistance level to end the day at sub-$0.225 levels.

At the time of writing, Dogecoin was down by 1.26% to $0.2218. A bearish start to the day saw Dogecoin fall from an early morning high $0.2246 to a low $0.2211.

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

For the day ahead

Dogecoin would need to avoid the $0.2184 pivot to bring the first major resistance level at $0.2368 into play.

Support from the broader market would be needed, however, for Dogecoin to break out from Thursday’s high $0.2306.

Barring an extended crypto rally, the first major resistance level and resistance at $0.24 would likely cap the upside

In the event of a broad-based crypto rally, Dogecoin could test resistance at $0.26 levels before any pullback. The second major resistance level sits at $0.2491.

A fall through $0.2184 pivot would bring the first major support level at $0.2061 into play.

Barring another extended sell-off, however, Dogecoin should avoid sub-$0.20 levels. The second major support level sits at $0.1877.

Looking at the Technical Indicators

First Major Support Level: $0.2061

Pivot Level: $0.2184

First Major Resistance Level: $0.2368

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