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Dogecoin – Daily Tech Analysis – September 27th, 2021

By:
Bob Mason
Published: Sep 27, 2021, 00:57 UTC

Following heavy losses from last week, Dogecoin would need to avoid the day's pivot level to support a return to $0.22 levels.

Dogecoin is a modern way of exchange and this crypto currency

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.

DOGEUSD 270921 Hourly Chart

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

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.

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