Dogecoin – Day by day Tech Evaluation – Aug 31, 2021 – Yahoo Finance

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Dogecoin

Dogecoin was down 3.31% on Monday. After losing 1.85% on Sunday, Dogecoin ended the day at $ 0.2719.

A bullish start to the day caused Dogecoin to climb to an early morning intraday high of $ 0.2905 before reversing.

Dogecoin hit the first major resistance level at $ 0.2900 and slid to a last hour’s intraday low of $ 0.2698.

Dogecoin fell through the first major support level at $ 0.2746 and ended the day at $ 0.271.

At the time of writing, Dogecoin was up 0.09% to $ 0.2722. After a mixed start to the day, Dogecoin rose to an early morning high of $ 0.2735 before falling to a low of $ 0.2698

Dogecoin left key support and resistance levels untested early on.

For the coming day

Dogecoin would have to move through the $ 0.2774 pivot to bring the first major resistance level into play at $ 0.2850.

However, for Dogecoin to break back to the $ 0.28 level, support from the broader market would be required.

Aside from an extended crypto rally, the first major resistance level and Monday’s high at $ 0.2905 would likely limit any uptrend.

In the event of a breakout, Dogecoin could test resistance at the 23.6% FIB of $ 0.3016 before pulling back. The second major resistance level is at $ 0.2981.

Failure to hit the $ 0.2774 level would bring the first major support level into play at $ 0.2643.

However, apart from another lengthy sell-off, Dogecoin should stay away from below $ 0.25 levels. The second major support level at $ 0.2567 should limit the downside.

Look at the technical indicators

First major support level: $ 0.2643

Pivot Level: $ 0.2774

First major resistance level: $ 0.2850

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

This article was originally published on FX Empire

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