Dogecoin – Each day Tech Evaluation –7. June 2021 – Yahoo Finance
Dogecoin rose 0.03% on Sunday. After losing 1.28% on Saturday, Dogecoin ended the week up 23.00% to $ 0.3715.
A mixed start to the day resulted in Dogecoin climbing to a morning intraday high of $ 0.3771 before hitting the reversal.
Dogecoin fell below the first major resistance level of $ 0.3883 and fell to an early afternoon intraday low of $ 0.3669.
Dogecoin hit the first major support level at $ 0.3573 and hit the $ 0.374 level again before falling again.
At the time of writing, Dogecoin was up 0.07% to $ 0.3718. A mixed start to the day resulted in Dogecoin falling to an early morning low of $ 0.3694 before rising to a high of $ 0.3739.
Dogecoin left key support and resistance levels untested early on.
For the coming day
Dogecoin would have to avoid a relapse from the $ 0.0.3718 pivot to bring the first major resistance level back into play at $ 0.3768.
However, for Dogecoin to break back to the $ 0.3750 level, support from the broader market would be required.
Aside from an extended crypto rally, the first major resistance level and Sunday’s high at $ 0.3771 would likely limit any uptrend.
In the event of another breakout, Dogecoin could test the resistance at $ 0.40 before pulling back. The second major resistance level is at $ 0.3820 and the third major resistance level is at $ 0.3922.
A relapse from the $ 0.3718 pivot would bring the first major support level into play at $ 0.3666.
However, subject to a lengthy sell-off, Dogecoin should bypass the third major support level at $ 0.3514. The second major support level at $ 0.3616 should limit the downside.
A continued decline through the 62% FIB of $ 0.2882 would form a short term downtrend from May 8th to $ 0.7427.
Look at the technical indicators
First major support level: $ 0.3666
Pivot Level: $ 0.3718
First major resistance level: $ 0.3768
23.6% FIB Retracement Level: $ 0.5691
38.2% FIB Retracement Level: $ 0.4618
62% FIB Retracement Level: $ 0.2882
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This article was originally published on FX Empire