Dogecoin Daily Technical Analysis – October 6, 2021


Dogecoin rose 4.22% on Tuesday. After rallying 8.88% on Monday, Dogecoin ended the day at $ 0.2518.

A choppy start to the day saw Dogecoin fall to an intraday low of $ 0.2327 in the late morning before taking a step.

Away from the first major support level at $ 0.2195, Dogecoin hit an intraday high of $ 0.2682 by mid-afternoon.

Dogecoin broke through the first major resistance level at $ 0.2563 before retreating to end the day at levels below $ 0.2520.

As of this writing, Dogecoin was down 0.17% to $ 0.2514. A mixed start to the day saw Dogecoin drop to an early morning low of $ 0.2501 before hitting a high of $ 0.2579.

Dogecoin left major support and resistance levels untested early on.

For the day ahead

Dogecoin should avoid a fall through the $ 0.2509 pivot to bring into play the first major resistance level at $ 0.2691.

However, broad market support would be needed for Dogecoin to return to levels of $ 0.265.

Barring a prolonged crypto rally, the first major resistance level and Tuesday’s $ 0.2682 high would likely cap the upside

In the event of a large scale crypto rally, Dogecoin could test the second major resistance level at $ 0.2864.

A pullback to a pivot of $ 0.2509 would bring into play the first major support level at $ 0.2336.

Unless another extended sell-off, however, Dogecoin should avoid levels below $ 0.22. The second major support level is at $ 0.2154.

Watch technical indicators

First major support level: $ 0.2336

Pivot level: $ 0.2509

First major resistance level: $ 0.2691

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

Source link

About Arla Lacy

Check Also

Malaysian stock market has a firm lead for Monday’s trade

(RTTNews) – The Malaysian stock market rebounded higher on Friday, a session after ending the …