Dogecoin – Each day Tech Evaluation –8. June 2021 – Yahoo Finance
Dogecoin was down 10.71% on Monday. After rising 0.03% on Sunday, Dogecoin ended the day at $ 0.3317.
A bullish start to the day resulted in Dogecoin climbing to an early morning intraday high of $ 0.3802 before reversing.
Dogecoin broke the first major resistance level at $ 0.3768 before slipping to a late intraday low of $ 0.3278.
The prolonged sell-off caused Dogecoin to break through the day’s key support levels before finding support.
However, despite a late return to the $ 0.33 level, Dogecoin was unable to break the third major support level at $ 0.3514.
At the time of writing, Dogecoin was up 0.26% to $ 0.3326. After a mixed start to the day, Dogecoin rose to an early morning high of $ 0.3378 before falling to a low of $ 0.3289.
Dogecoin left key support and resistance levels untested early on.
For the coming day
Dogecoin would have to move through the $ 0.3466 pivot to bring the first major resistance level into play at $ 0.3653.
However, for Dogecoin to break back to the $ 0.36 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 $ 0.3802 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 $ 0.3990.
If the $ 0.3466 pivot is not broken, the first major support level at $ 0.3129 would come into play.
However, apart from another lengthy sell-off, Dogecoin should stay away from the second major support level at $ 0.2942.
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: $ 0.3129
Pivot Level: $ 0.3466
First major resistance level: $ 0.3653
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.
The story goes on
This article was originally published on FX Empire