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Home Dogecoin

Dogecoin – Daily Tech Analysis – August 16th, 2021

bestcryptocurrency by bestcryptocurrency
August 16, 2021
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Dogecoin

Dogecoin rallied by 15.64% on Sunday. Following an 11.14% acquire on Saturday, Dogecoin ended the week up by 41.77% to $0.3402.

A combined begin to the day noticed Dogecoin fall to a mid-morning intraday low $0.2866 earlier than making a transfer.

Steering away from the primary main help stage at $0.2746, Dogecoin rallied to a late intraday excessive $0.3498.

Dogecoin broke by way of the primary main resistance stage at $0.3063 and the second main resistance stage at $0.3184.

Extra considerably, Dogecoin additionally broke by way of the 23.6% FIB of $0.3016.

Testing resistance on the third main resistance stage at $0.3501, nonetheless, Dogecoin eased again to finish the day at $0.3402.

On the time of writing, Dogecoin was up by 0.16% to $0.3408. A combined begin to the day noticed Dogecoin rise to an early morning excessive $0.3449 earlier than falling to a low $0.32995.

Dogecoin left the most important help and resistance ranges untested early on.

For the day forward

Dogecoin would wish to keep away from the $0.3255 pivot to carry the primary main resistance stage at $0.3645 into play.

Assist from the broader market can be wanted, nonetheless, for Dogecoin to interrupt out from Sunday’s excessive $0.3498.

Barring an prolonged crypto rally, the primary main resistance stage would doubtless cap any upside.

Within the occasion of one other breakout, Dogecoin may check resistance on the 38.2% FIB of $0.3859. The second main resistance stage sits at $0.3887.

A fall by way of the $0.3255 pivot would carry the 23.6% FIB of $0.3016 and the primary main help stage at $0.3013 into play.

Barring an prolonged sell-off, nonetheless, Dogecoin ought to keep away from sub-$0.30 ranges. The second main help stage sits at $0.2623.

Wanting on the Technical Indicators

First Main Assist Degree: $0.3013

Pivot Degree: $0.3255

First Main Resistance Degree: $0.3645

23.6% FIB Retracement Degree: $0.3016

38.2% FIB Retracement Degree: $0.3859

62% FIB Retracement Degree: $0.5221

Please tell us what you suppose within the feedback beneath.

Thanks, Bob



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