Dogecoin – Daily Tech Analysis –June 14th, 2021

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Published: Jun 14, 2021, 01:11 UTC

It's been a mixed start to the day. Dogecoin would need to avoid the day's pivot to support another breakout, however.

Dogecoin

Dogecoin rallied by 6.20% on Sunday. Reversing a 1.81% fall from Saturday, Dogecoin ended the week down by 12.82% to $0.3239

A bearish start to the day saw Dogecoin fall to an early morning intraday low $0.3077 before making a move.

Steering clear of the first major support level at $0.3023, Dogecoin rallied to a late intraday high $0.3302.

Dogecoin broke through the first major resistance level at $0.3205 and the second major resistance level at $0.3289.

A bearish end to the day, however, saw Dogecoin fall back through the second major resistance level to end the day at $0.323 levels.

At the time of writing, Dogecoin was up by 0.25% to $0.3247. A mixed start to the day saw Dogecoin rise to an early morning high $0.3275 before falling to a low $0.3217.

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

For the day ahead

Dogecoin would need to avoid the $0.3206 pivot to bring the first major resistance level at $0.3335 into play.

Support from the broader market would be needed, however, for Dogecoin to break out from Sunday’s high $0.3302.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

In the event of a breakout, Dogecoin could test resistance at $0.35 before any pullback. The second major resistance level sits at $0.3431.

A fall through the $0.3206 pivot would bring the first major support level at $0.3110 into play.

Barring another extended sell-off, however, Dogecoin should steer clear of sub-$0.30 levels. The second major support level sits at $0.2981.

A sustained fall through the 62% FIB of $0.2882 would form a near-term bearish trend from 8^th May’s swing hi $0.7427.

Looking at the Technical Indicators

First Major Support Level: $0.3110

Pivot Level: $0.3206

First Major Resistance Level: $0.3335

23.6% FIB Retracement Level: $0.5691

38.2% FIB Retracement Level: $0.4618

62% FIB Retracement Level: $0.2882

Please let us know what you think in the comments below.

Thanks, Bob

About the Author

Bob Masonauthor

With over 20 years of experience in the finance industry, Bob has been managing regional teams across Europe and Asia and focusing on analytics across both corporate and financial institutions. Currently he is covering developments relating to the financial markets, including currencies, commodities, alternative asset classes, and global equities.