Dogecoin – Daily Tech Analysis – September 20th, 2021

Dogecoin

Dogecoin fell by 3.48% on Sunday. Reversing a 0.58% gain from Saturday, Dogecoin ended the week 6.93% to $0.2330.

A mixed start to the day saw Dogecoin rise to an early morning intraday high $0.2415 before hitting reverse.

Falling short of the first major resistance level at $0.2465, Dogecoin slid to a late intraday low $0.2308.

Dogecoin fell through the first major support level at $0.2371 and the second major support level at $0.2329.

Steering clear of sub-$0.23 levels, however, Dogecoin broke back through the second major support level to end the day at $0.233 levels.

At the time of writing, Dogecoin was down by 1.95% to $0.2284. A mixed start to the day saw Dogecoin rise to an early morning high $0.2335 before falling to a low $0.2254.

Dogecoin fell through the first major support level at $0.2287 early on.

DOGEUSD 200921 Hourly Chart

For the day ahead

Dogecoin would need to move through the $0.2351 pivot to bring the first major resistance level at $0.2394 into play.

Support from the broader market would be needed, however, for Dogecoin to break back through the first major support level to $0.235 levels.

Barring an extended crypto rally, the first major resistance level and Sunday’s high $0.2415 would likely cap the upside

In the event of a broad-based crypto rally, Dogecoin could test resistance at $0.25 levels before any pullback. The second major resistance level sits at $0.2458.

Failure to move back through the first major support level at $0.2287 would bring the second major support level at $0.2244 back into play.

Barring another extended sell-off, however, Dogecoin should avoid sub-$0.22 levels. The third major support level sits at $0.2137.

Looking at the Technical Indicators

First Major Support Level: $0.2287

Pivot Level: $0.2351

First Major Resistance Level: $0.2394

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

Shiba Inu Rallies After Coinbase Listing

Shiba Inu Tries To Gain Additional Upside Momentum

Shiba Inu continues its attempts to settle above the resistance at $0.000009 as traders react to Coinbase listing. Such listing provides many traders with an opportunity to buy Shiba Inu, which is bullish for the cryptocurrency.

Meanwhile, Bitcoin remains stuck near the $48,000 level. In case Bitcoin manages to settle above this resistance level, it will gain additional upside momentum which will be bullish for the whole crypto market, including Shiba Inu.

Other cryptocurrencies are mostly moving higher. Ethereum has recently made an attempt to settle above the resistance at $3,600. XRP is trading near $1.09 while Dogecoin is testing the resistance level at $0.2570.

Technical Analysis

shiba inu september 17 2021

Shiba Inu has recently made an attempt to settle above the resistance level at $0.0000095 but failed to develop sufficient upside momentum and pulled back. RSI remains in the moderate territory despite the recent rally so there is plenty of room to gain additional upside momentum in case the right catalysts emerge.

Currently, Shiba Inu needs to settle back above $0.000009 to have a chance to develop upside momentum in the near term. In case Shiba Inu gets above $0.000009, it will head towards the next resistance level which is located at the recent highs at $0.0000095.

A successful test of this level will open the way to the test of the psychologically important resistance at $0.000010. If Shiba Inu manages to settle above $0.000010, it will move towards the resistance at $0.0000105.

On the support side, the nearest support level for Shiba Inu is located at $0.0000085. In case Shiba Inu declines below this level, it will head towards the support at $0.000008.

A move below $0.000008 will open the way to the test of the support at $0.0000077. If Shiba Inu manages to settle below this level, it will head towards the next support which is located at $0.00000745.

For a look at all of today’s economic events, check out our economic calendar.

Coinbase Adds Support for Shiba Inu, Meme Coin Soars

Leading cryptocurrency exchange Coinbase announced it supports meme coin Shiba Inu for users. Coinbase customers can now trade Shiba Inu on Coinbase.com as well as the company’s mobile apps on iOS and Android.

Earlier this month, Coinbase listed Shiba Inu on its professional trading platform, Coinbase Pro, an addition that was initially announced in June but was delayed due to a technical glitch.

Shiba Inu is an Ethereum based decentralized meme token. It was created as an alternative to fellow meme coin Dogecoin, whose mascot is a Shiba Inu, a Japanese dog breed.

The Shiba Inu community cheered the move, sending the cryptocurrency soaring more than 20% in the last 24-hour period to $0.000008299. Trading volume in SHIB/USD was $243 million at last check based on CoinMarketCap data.

The Shiba Inu team is famous for gifting Vitalik Buterin with a large chunk of the Shib supply, which the Ethereum co-founder then sent to a charity.

Elon Musk Bump

Shiba Inu investors also recently celebrated when Tesla CEO Elon Musk, who is a known Dogecoin fan, posted a picture of a new puppy, a Shiba Inu. Musk said in June that his “Shiba Inu will be named Floki,” which is the name of a boat builder character in the Vikings series on The History Channel.

Musk’s big reveal captured the attention of the Dogecoin team, which tweeted in response that his “doge is shaped somewhat like a small bean.” The Doge price is currently trading more than 3% lower at $0.2375. On social media, Dogecoin investors tout the $1 threshold as a target price for the meme coin.   

Source: Twitter

Coinbase Moves

Coinbase announced the Shiba Inu listing in the face of regulatory scrutiny. The company is doing battle with the U.S. SEC over a lending product it wants to launch in October. Regulators have warned Coinbase that if it follows through with its plans, the SEC is prepared to sue.

In addition, Coinbase has started the process to begin trading cryptocurrency derivatives. The company has filed an application with the National Futures Association, which if approved would put it under the regulatory oversight of the CFTC. Coinbase would be joining the likes of the CME, which currently supports futures trading in bitcoin and Ethereum.

AMC Chief Expands Crypto Payments, Leaves Off Dogecoin

AMC Entertainment made a splash in the cryptocurrency industry by revealing it intends to support more than just bitcoin payments. In a surprise move, AMC CEO Adam Aron tweeted that the company plans to also accept Ethereum, Litecoin and Bitcoin Cash for movie tickets and concession transactions. One cryptocurrency that was conspicuously left off the list was Dogecoin.

The Dogecoin community has had AMC on their radar since Aron announced the bitcoin integration in August. YouTube talk show host Steven Steele pointed out that many Dogecoin investors also own shares of AMC’s stock, which would make both camps happy. Many Dogecoin fans expressed their surprise that Aron left out Dogecoin, calling it a big mistake, while others are holding out hope that it is just a matter of time.

Dogecoin bulls have been trying to get the meme coin more into the spotlight with hopes of driving the price up higher to the $1 threshold and beyond. The Doge price currently hovers at just below $0.24.

Crypto Push

Aron first revealed that the company would be integrating bitcoin payments during the movie chain’s Q2 earnings call. Since then, the meme-coin crowd has been sending him a message that Dogecoin also works well for payments, boasting transactions that are faster and cheaper than bitcoin.

Dogecoin can complete transactions in about one minute, while bitcoin blocks are completed in around 10 minutes. Thanks to second-layer technology such as the Lightning Network, bitcoin payments can be made in real-time, or in about the same amount of time it takes to send an email.

Tall Tale?

AMC’s announcement was also met with some skepticism, given that it came on the heels of the recent fake news involving Walmart and Litecoin. Scammers issued a fraudulent press release saying that the big-box retailer and the Litecoin project were teaming up, and it sent the markets into a frenzy. Litecoin initially spiked, but once Walmart and Litecoin denied any collaboration, those gains were quickly erased.

For AMC, the announcement came straight from the CEO’s Twitter account, which incidentally has yet to be verified.  AMC’s stock price is up fractionally on the day, while the bitcoin price is slightly lower.

Bitcoin Is Moving Towards $50,000

Bitcoin Stays Strong

Bitcoin managed to get above the resistance at $48,000 and continues to move towards the psychologically important $50,000 level. Meanwhile, Ethereum climbed above the resistance at $3,600 and is trying to gain additional upside momentum.

Smaller cryptocurrencies like Dogecoin or XRP failed to develop material momentum, and it looks that traders interest is concentrated in Bitcoin and Ethereum today.

Bitcoin Dominance, which measures the market capitalization of Bitcoin as a percentage of total crypto market capitalization, is stuck near 41%. Bitcoin’s recent rebound failed to provide significant support to Bitcoin Dominance which indicates that traders’ interest in altcoins remains strong.

Technical Analysis

bitcoin september 16 2021

Bitcoin continues to move higher and is trying to settle above the resistance level at $48,000. RSI remains in the moderate territory, and there is plenty of room to gain additional upside momentum in case the right catalysts emerge.

A successful test of the resistance at $48,000 will open the way to the test of the next resistance level at $50,000. In case Bitcoin gets above the key resistance at $50,000, it will attract more speculative traders and head towards the next resistance level which is located at $51,500.

A move above the resistance at $51,500 will open the way to the test of the resistance at $53,000. If Bitcoin manages to settle above the resistance at $53,000, it will move towards the next resistance level at $55,000.

On the support side, Bitcoin needs to get back below $48,000 to have a chance to develop downside momentum in the near term. The next support level for Bitcoin is located at the 20 EMA at $47,300.

If Bitcoin declines below the 20 EMA, it will head towards the support at $46,000. A successful test of this support level will lead to a test of the support at the 50 EMA at $45,500. If Bitcoin declines below the 50 EMA, it will continue its downside move and head towards the support level at $44,000.

For a look at all of today’s economic events, check out our economic calendar.

Dogecoin – Daily Tech Analysis – September 16th, 2021

Dogecoin

Dogecoin rose by 2.95% on Wednesday. Following a 2.03% gain on Tuesday, Dogecoin ended the day at $0.2478.

A mixed start to the day saw Dogecoin fall to an early morning intraday low $0.2390 before making a move.

Steering clear of the first major support level at $0.2358, Dogecoin rose to a late intraday high $0.2483.

Dogecoin broke through the first major resistance level at $0.2437 and the second major resistance level at $0.2466 to end the day at $0.247 levels.

At the time of writing, Dogecoin was down by 0.83% to $0.2457. A mixed start to the day saw Dogecoin rise to an early morning high $0.2480 before falling to a low $0.2415.

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

DOGEUSD 160921 Hourly Chart

For the day ahead

Dogecoin would need to avoid a fall back through the $0.2450 pivot to bring the first major resistance level at $0.2511 into play.

Support from the broader market would be needed, however, for Dogecoin to break back through to $0.25 levels.

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 $0.26 levels before any pullback. The second major resistance level sits at $0.2543.

A fall back through the $0.2450 pivot would bring the first major support level at $0.2411 into play.

Barring another extended sell-off, however, Dogecoin should avoid sub-$0.23 levels. The second major support level at $0.2357 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $0.2418

Pivot Level: $0.2450

First Major Resistance Level: $0.2511

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

Bitcoin Tests Resistance At The 20 EMA

Bitcoin Stays Strong After Yesterday’s Upside Move

Bitcoin is currently trying to settle above the 20 EMA at $47,100 while other cryptocurrencies are mostly flat as traders wait for the results of this test. Ethereum is testing the resistance at $3,400. Dogecoin is trying to settle back above $0.24 while XRP is stuck near $1.09.

Bitcoin has been volatile in recent trading sessions after a fake press release stated that Walmart would partner with Litecoin. This press release was quickly refuted, and Bitcoin found itself under pressure.

However, Bitcoin received support near $44,000 and gained upside momentum as traders rushed to purchase Bitcoin after the pullback. If Bitcoin manages to settle above the 20 EMA and moves closer to the psychologically important $50,000 level, other cryptocurrencies will get more support.

Technical Analysis

bitcoin september 15 2021

Bitcoin is currently testing the resistance level at the 20 EMA. In case this test is successful, it will head towards the next resistance at $48,000. A move above this level will push Bitcoin towards the major resistance at $50,000.

In case Bitcoin manages to settle above the psychologically important resistance level at $50,000, it will gain additional upside momentum and head towards the resistance at $51,500. A successful test of this level will push Bitcoin towards the next resistance which is located near the recent highs at $53,000.

On the support side, a move below $47,000 will push Bitcoin back towards the support at $46,000. If Bitcoin settles below this level, it will move towards the support at the 50 EMA near $45,200.

A successful test of the support at the 50 EMA will open the way to the test of the next support at $44,000. In case Bitcoin declines below this level, it will head towards the next support which is located near the recent lows at $42,600.

For a look at all of today’s economic events, check out our economic calendar.

Dogecoin – Daily Tech Analysis – September 15th, 2021

Dogecoin

Dogecoin rose by 2.03% on Tuesday. Partially reversing a 5.72% slide from Monday, Dogecoin ended the day at $0.2407.

A mixed start to the day saw Dogecoin fall to an early morning intraday low $0.2338 before making a move.

Steering clear of the first major support level at $0.2252, Dogecoin rose to a late afternoon intraday high $0.2417.

Falling short of the first major resistance level at $0.2494, Dogecoin slipped back to sub-$0.24 levels before finding late support.

At the time of writing, Dogecoin was down by 0.42% to $0.2397. A mixed start to the day saw Dogecoin rise to an early morning high $0.2411 before falling to a low $0.2394.

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

DOGEUSD 150921 Hourly Chart

For the day ahead

Dogecoin would need to avoid the $0.2387 pivot to bring the first major resistance level at $0.2437 into play.

Support from the broader market would be needed, however, for Dogecoin to break out from Tuesday’s high $0.2417.

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 $0.25 levels before any pullback. The second major resistance level sits at $0.2466.

A fall through the $0.2387 pivot would bring the first major support level at $0.2358 into play.

Barring another extended sell-off, however, Dogecoin should avoid sub-$0.23 levels. The second major support level at $0.2308 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $0.2358

Pivot Level: $0.2387

First Major Resistance Level: $0.2437

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

Dogecoin Gains Ground As Bitcoin Rebounds

Dogecoin Moves Higher After Yesterday’s Sell-Off

Dogecoin received support near $0.2350 and is trying to gain upside momentum as Bitcoin rebounds after yesterday’s sell-off.

On Monday, the world’s leading cryptocurrency made an attempt to settle below the important support level at $44,000 but failed to develop sufficient upside momentum and moved back above the 50 EMA which is located at $45,200.

Currently, Bitcoin is trying to settle above the resistance level at $46,000. In case this attempt is successful, Bitcoin will gain additional upside momentum which will be bullish for Dogecoin and other cryptocurrencies.

Technical Analysis

dogecoin september 14 2021

Dogecoin failed to settle below the support level at $0.2350 and is trying to get to the test of the resistance at $0.24. RSI is in the moderate territory, and there is plenty of room to gain upside momentum in case the right catalysts emerge.

If Dogecoin manages to settle above the resistance at $0.24, it will head towards the next resistance level which is located at $0.2450. A move above this level will open the way to the test of the resistance at $0.2520. In case Dogecoin gets above $0.2520, it will continue its upside move and head towards the next resistance level at $0.2570.

On the support side, Dogecoin needs to settle below the support at $0.2350 to have a chance to develop downside momentum in the near term. The next support level for Dogecoin is located near the recent lows at $0.23.

In case Dogecoin manages to settle below the support at $0.23, it will gain additional downside momentum and head towards the next support level near $0.2250. A move below this level will open the way to the test of the support at $0.2190.

It should be noted that Dogecoin will likely remain sensitive to the dynamics of Bitcoin in the upcoming trading sessions, so traders should keep an eye on the movements of the world’s leading cryptocurrency.

For a look at all of today’s economic events, check out our economic calendar.

Dogecoin – Daily Tech Analysis – September 14th, 2021

Dogecoin

Dogecoin slid by 5.72% on Monday. Reversing a 3.86% gain from Sunday, Dogecoin ended the day at $0.2359.

A mixed start to the day saw Dogecoin rise to an early morning intraday high $0.2522 before hitting reverse.

Falling short of the first major resistance level at $0.2569, Dogecoin slid to an early afternoon intraday low $0.2280.

Dogecoin fell through the first major support level at $0.2413 and the second major support level at $0.2323.

Finding late support, however, Dogecoin broke back through the second major support level to end the day at $0.235 levels.

At the time of writing, Dogecoin was up by 0.35% to $0.2367. A mixed start to the day saw Dogecoin fall to an early morning low $0.2338 before rising to a high $0.2380.

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

DOGEUSD 140921 Hourly Chart

For the day ahead

Dogecoin would need to move through the $0.2387 pivot to bring the first major resistance level at $0.2494 into play.

Support from the broader market would be needed, however, for Dogecoin to break out from $0.2450 levels.

Barring an extended crypto rally, the first major resistance level and Monday’s high $0.2522 would likely cap the upside

In the event of a broad-based crypto rally, Dogecoin could test resistance at $0.27 levels before any pullback. The second major resistance level sits at $0.2629.

Failure to move through the $0.2387 pivot would bring the first major support level at $0.2252 into play.

Barring another extended sell-off, however, Dogecoin should avoid sub-$0.22 levels. The second major support level sits at $0.2145.

Looking at the Technical Indicators

First Major Support Level: $0.2252

Pivot Level: $0.2387

First Major Resistance Level: $0.2494

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

Bitcoin Tries To Settle Below The Support At $44,000

Bitcoin Is Losing Ground At The Start Of The Week

Bitcoin managed to get below the 50 EMA at $45,200 and is trying to settle below the next support level which is located at $44,000. This is an important moment for the whole crypto market as Bitcoin will have a great chance to develop additional downside momentum in case it manages to settle below the support at $44,000.

Not surprisingly, other cryptocurrencies are under pressure. Ethereum is currently trying to settle below $3,200. Dogecoin is testing the support at $0.2350, while XRP is trying to settle below the 50 EMA near $1.05.

Bitcoin Dominance, which measures the market capitalization of Bitcoin as a percentage of total crypto market capitalization, has moved away from recent lows near 40%, but this move did not help Bitcoin as the whole crypto market is under strong pressure.

Technical Analysis

bitcoin september 13 2021

Bitcoin declined below the 50 EMA at $45,200 and is testing the next support level at $44,000. RSI is in the moderate territory, and there is plenty of room to gain additional downside momentum in case the right catalysts emerge.

If Bitcoin manages to settle below the support at $44,000, it will head towards the next support which is located near the recent lows at $42,600. A successful test of this support level will open the way to the test of the support at $41,300. In case Bitcoin declines below this level, it will move towards the psychologically important support level at $40,000.

On the upside, the previous support at the 50 EMA at $45,200 will serve as the first resistance level for Bitcoin. If Bitcoin manages to get back above this level, it will move towards the next resistance at $46,000.

A move above $46,000 will open the way to the test of the resistance at the 20 EMA at $47,000. In case Bitcoin manages to settle above the 20 EMA, it will continue its rebound and head towards the next resistance level which is located at $48,000.

For a look at all of today’s economic events, check out our economic calendar.

Dogecoin – Daily Tech Analysis – September 13th, 2021

Dogecoin

Dogecoin rallied by 3.86% on Sunday. Following a 0.54% gain on Saturday, Dogecoin ended the week down by 20.47% to $0.2503.

A mixed start to the day saw Dogecoin fall to an early morning intraday low $0.2389 before making a move.

Steering clear of the first major support level at $0.2364, Dogecoin rallied to a late intraday high $0.2545.

Dogecoin broke through the first major resistance level at $0.2468 and the second major resistance level at $0.2526.

A late pullback, however, saw Dogecoin fall through the second major resistance level to end the day at sub-$0.2510 levels.

At the time of writing, Dogecoin was down by 0.87% to $0.2481. A bearish start to the day saw Dogecoin fall from an early morning high $0.2522 to a low $0.2473.

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

DOGEUSD 130921 Hourly Chart

For the day ahead

Dogecoin would need to move back through the $0.2479 pivot to bring the first major resistance level at $0.2569 into play.

Support from the broader market would be needed, however, for Dogecoin to break out from Sunday’s high $0.2545.

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 $0.27 levels before any pullback. The second major resistance level sits at $0.2635.

Failure to move back through the $0.2479 pivot would bring the first major support level at $0.2413 into play.

Barring another extended sell-off, however, Dogecoin should avoid sub-$0.23 levels. The second major support level at $0.2323 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $0.2413

Pivot Level: $0.2479

First Major Resistance Level: $0.2569

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

Shiba Inu Is Losing Ground While Bitcoin Tries To Settle Below $46,000

Shiba Inu Is Under Pressure Ahead Of The Weekend

Shiba Inu failed to settle above the resistance level at $0.00000745 and declined towards the support at $0.000007 while Bitcoin made an attempt to settle below the support level at $46,000.

Bitcoin stabilized in the $46,000 – $47,000 range after the major sell-off. It has already made several attempts to gain upside momentum but these attempts yielded no results. This is an important moment for the whole crypto market as Bitcoin’s failure to rebound after a major sell-off may trigger another wave of selling which will put pressure on other cryptocurrencies.

It should be noted that the crypto market mood is bearish today. Ethereum continues its attempts to settle below $3,400. Dogecoin is trying to settle below $0.25 while XRP has moved back below $1.10 after a test of the resistance near $1.25.

Technical Analysis

shiba inu september 10 2021

Shiba Inu made several attempts to settle above the resistance level at $0.00000745 but failed to develop sufficient upside momentum and pulled back. Currently, Shiba Inu is trying to settle below the support level at $0.000007.

In case Shiba Inu declines below this level, it will move towards the next support level which is located at $0.0000067. RSI remains in the moderate territory, and there is plenty of room to gain additional downside momentum in case the right catalysts emerge.

A move below the support level at $0.0000067 will push Shiba Inu towards the next support at $0.0000065. If Shiba Inu manages to settle below this level, it will head towards the next support at $0.0000063.

On the upside, Shiba Inu needs to settle above the resistance at $0.00000745 to have a chance to develop upside momentum in the near term. The next resistance level for Shiba Inu is located at $0.0000077.

A move above the resistance at $0.0000077 will open the way to the test of the resistance at $0.000008. In case Shiba Inu settles above $0.000008, it will head towards the next resistance level at $0.0000085.

For a look at all of today’s economic events, check out our economic calendar.

Bitcoin Is Stuck Near $46,000 After Sell-Off

Bitcoin Tries To Rebound After Major Sell-Off

Bitcoin is currently trading near the $46,000 level after the recent sell-off while other cryptocurrencies have also stabilized after recent volatility. Ethereum is currently trying to settle below $3,500 while Dogecoin is testing the support level at $0.2520.

Bitcoin found itself under strong pressure after it became legal tender in El Salvador. It looks that it was a typical “sell the news” event, amplified by traders’ protective stop orders which fell like dominoes.

It should be noted that Bitcoin failed to gain upside momentum right after the major sell-off, and it looks that the size of this sell-off had a negative impact on traders’ mood. However, crypto markets are known for their volatility, and Bitcoin should have good chances to move back to recent highs in case it manages to stabilize near current levels.

Technical Analysis

bitcoin september 9 2021

Bitcoin received support near the 50 EMA at $45,200 and is trying to settle back above $46,000. RSI has moved away from the overbought territory, and there is plenty of room to gain upside momentum in case the right catalysts emerge.

If Bitcoin manages to settle above $46,000, it will get to the test of the next resistance level near $47,000. A move above this level will open the way to the test of the resistance at the 20 EMA at $48,000.

In case Bitcoin settles above the 20 EMA, it will move towards the psychologically important $50,000 level. A successful test of this level will open the way to the test of the next resistance at $51,500.

On the support side, Bitcoin needs to get back below $46,000 to have a chance to develop downside momentum in the near term. The next support level is located at the 50 EMA at $45,200. A move below the 50 EMA will push Bitcoin towards the support at $44,000. In case Bitcoin declines below this level, it will head towards the support which is located near the recent lows at $42,600.

For a look at all of today’s economic events, check out our economic calendar.

Dogecoin – Daily Tech Analysis – September 9th, 2021

Dogecoin

Dogecoin rose by 0.51% on Wednesday. Following a 17.43% tumble on Tuesday, Dogecoin ended the day at $0.2567.

A mixed start to the day saw Dogecoin fall to a late morning intraday low $0.2335 before making a move.

Steering clear of the first major support level at $0.2062, Dogecoin rose to a late afternoon intraday high $0.2634.

Falling short of the 23.6% FIB of $0.3016 and the first major resistance level at $0.3080, Dogecoin eased back to end the day at sub-$0.26 levels.

At the time of writing, Dogecoin was up by 0.10% to $0.2569. A mixed start to the day saw Dogecoin rise to an early morning high $0.2597 before falling to a low $0.2544.

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

DOGEUSD 090921 Hourly Chart

For the day ahead

Dogecoin would need to avoid the $0.2512 pivot to bring the first major resistance level at $0.2689 into play.

Support from the broader market would be needed, however, for Dogecoin to break out from Wednesday’s high $0.2634.

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 the 23.6% FIB of $0.3016 before any pullback. The second major resistance level sits at $0.2811.

A fall through the $0.2512 pivot would bring the first major support level at $0.2390 into play.

Barring another extended sell-off, however, Dogecoin should avoid sub-$0.20 levels. The second major support level at $0.2213 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $0.2390

Pivot Level: $0.2512

First Major Resistance Level: $0.2689

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

Dogecoin Remains Under Pressure After Yesterday’s Collapse

Dogecoin Retreats Amid Broad Sell-Off In Crypto Markets

Dogecoin is currently trying to settle below $0.24 while Bitcoin is trying to get below the 50 EMA at $45,100.

Yesterday, crypto markets found themselves under huge pressure after Bitcoin moved back below the $50,000 level. Bitcoin became legal tender in El Salvador, but the country’s citizens had technical problems after the launch which may have served as a trigger for the sell-off.

Today, Bitcoin remains under pressure, although it has not reached yesterday’s lows near $43,000. This is a bearish sign for Dogecoin and other cryptocurrencies. Ethereum is currently trying to settle below the support level at $3,300, while XRP is testing the support at the 50 EMA at $1.05.

Technical Analysis

dogecoin september 8 2021

Dogecoin managed to get below the support level at $0.2450 and made an attempt to settle below the next support at $0.24. RSI remains in the moderate territory despite the strong sell-off, and there is plenty of room to gain additional downside momentum in case the right catalysts emerge.

If Dogecoin manages to get below the support at $0.24, it will head towards the next support at $0.2350. A move below this level will open the way to the test of the support at $0.23.

On the upside, Dogecoin needs to get back above $0.2450 to have a chance to develop upside momentum in the near term. A move above this level will push Dogecoin towards the resistance level at $0.2520. In case Dogecoin climbs back above this level, it will head towards the resistance at $0.2570.

It should be noted that the market remains in a panic mode, and Dogecoin may easily ignore technical levels. The trading volume has increased materially compared to previous trading sessions so Dogecoin will likely remain volatile. In this light, traders should be prepared for fast moves and focus on the momentum as support and resistance levels may be easily breached.

For a look at all of today’s economic events, check out our economic calendar.

Dogecoin – Daily Tech Analysis – September 8th, 2021

Dogecoin

Dogecoin tumbled by 17.43% on Tuesday. Following a 1.72% loss on Monday, Dogecoin ended the day at $0.2554.

A mixed start to the day saw Dogecoin rise to an early morning intraday high $0.3115 before hitting reverse.

Falling short of the first major resistance level at $0.3197, Dogecoin slumped to a mid-afternoon intraday low $0.2097.

The extended sell-off saw Dogecoin fall through 23.6% FIB of $0.3016 and the day’s major support levels to end the day at $0.25 levels.

At the time of writing, Dogecoin was up by 0.17% to $0.2558. A mixed start to the day saw Dogecoin rise to an early morning high $0.2562 before falling to a low $0.2506.

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

DOGEUSD 080921 Hourly Chart

For the day ahead

Dogecoin would need to move through the $0.2589 pivot to bring the 23.6% FIB and the first major resistance level at $0.3080 into play.

Support from the broader market would be needed, however, for Dogecoin to break through to $0.30 levels.

Barring an extended crypto rally, however, resistance at $0.27 would likely leave Dogecoin short of the first major resistance level.

In the event of a broad-based crypto rebound, Dogecoin could test resistance at $0.31 levels before any pullback. The second major resistance level sits at $0.3607.

Failure to move through the $0.2589 would bring the first major support level at $0.2062 into play.

Barring another extended sell-off, however, Dogecoin should avoid sub-$0.20 levels. The second major support level sits at $0.1571.

Looking at the Technical Indicators

First Major Support Level: $0.2062

Pivot Level: $0.2589

First Major Resistance Level: $0.3080

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

Shiba Inu Retreats Amid Broad Weakness In Crypto Markets

Shiba Inu Is Under Pressure

Shiba Inu is currently trying to settle below the support level at $0.000007 while Bitcoin is moving lower. The world’s leading cryptocurrency has managed to settle above the resistance at $51,500 and made an attempt to settle above the next resistance level at $53,000. This attempt yielded no results and Bitcoin pulled back, which triggered a pullback in many cryptocurrencies.

Ethereum failed to settle above the psychologically important $4,000 level and moved below $3,900. Dogecoin is currently trying to settle below $0.30 while XRP is testing the support at $1.35.

Bitcoin Dominance, which measures the market capitalization of Bitcoin as a percentage of total crypto market capitalization, has recently moved away from lows near 41%. It should be noted that the recent decline of Bitcoin Dominance provided no material support to Shiba Inu as traders focused on major altcoins.

Technical Analysis

shiba inu september 7 2021

Shiba Inu settled below the support at $0.00000745 and got to the test of the next support level at $0.000007. RSI remains in the moderate territory, and there is plenty of room to gain additional downside momentum in case the right catalysts emerge.

In case Shiba Inu declines below the support level at $0.000007, it will move towards the next support at $0.0000067. A successful test of this level will push Shiba Inu towards the support which is located at the recent lows at $0.0000065. If Shiba Inu settles below this support level, it will head towards the next support at $0.0000063.

On the upside, the nearest resistance level for Shiba Inu is located at $0.00000745. A move above this level will push Shiba Inu towards the resistance near the recent highs at $0.0000077. In case Shiba Inu gets above this level, it will head towards the next resistance level at $0.000008. A successful test of this level will provide Shiba Inu with an opportunity to get to the test of the next resistance at $0.0000085.

For a look at all of today’s economic events, check out our economic calendar.

Dogecoin – Daily Tech Analysis – September 7th, 2021

Dogecoin

Dogecoin fell by 1.72% on Monday. Partially reversing a 5.08% rally from Sunday, Dogecoin ended the day at $0.3093.

A mixed start to the day saw Dogecoin rise to a late morning intraday high $0.3202 before hitting reverse.

Falling short of the first major resistance level at $0.3217, Dogecoin slid to a mid-day intraday low $0.3000.

Dogecoin fell through the first major support level at $0.3021 and the 23.6% FIB of $0.3016.

Steering clear of sub-$0.30 levels, however, Dogecoin revisited $0.31 levels before easing back

At the time of writing, Dogecoin was down by 0.80% to $0.3068. A mixed start to the day saw Dogecoin rise to an early morning high $0.3115 before falling to a low $0.3066.

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

DOGEUSD 070921 Hourly Chart

For the day ahead

Dogecoin would need to move back through the $0.3098 pivot to bring the first major resistance level at $0.3197 into play.

Support from the broader market would be needed, however, for Dogecoin to break through to $0.3150 levels.

Barring an extended crypto rally, the first major resistance level and Monday’s high $0.3202 would likely cap any upside.

In the event of a breakout, Dogecoin could test resistance at $0.34 levels before any pullback. The second major resistance level sits at $0.3300.

Failure to move back through the $0.3098 pivot would bring the 23.6% FIB of $0.3016 and the first major support level at $0.2995 into play.

Barring an extended sell-off, however, Dogecoin should avoid sub-$0.29 levels. The second major support level sits at $0.2896.

Looking at the Technical Indicators

First Major Support Level: $0.2995

Pivot Level: $0.3098

First Major Resistance Level: $0.3197

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

Dogecoin – Daily Tech Analysis – September 6th, 2021

Dogecoin

Dogecoin rose by 5.08% on Sunday. Following a 1.05% gain on Saturday, Dogecoin ended the week up by 11.94% to $0.3147.

A mixed start to the day saw Dogecoin fall to an early morning intraday low $0.2966 before making a move.

Steering clear of the first major support level at $0.2922, Dogecoin rallied to a late intraday high $0.3162.

Dogecoin broke through the 23.6% FIB of $0.3016 and the first major resistance level at $0.3078.

Coming up against the second major resistance level at $0.3161, Dogecoin eased back to end the day at $0.314 levels.

At the time of writing, Dogecoin was up by 0.15% to $0.3152. A mixed start to the day saw Dogecoin fall to an early morning low $0.3144 before rising to a high $0.3163.

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

DOGEUSD 060921 Hourly Chart

For the day ahead

Dogecoin would need to avoid the $0.3092 pivot to bring the first major resistance level at $0.3217 into play.

Support from the broader market would be needed, however, for Dogecoin to break through to $0.32 levels.

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 $0.33 levels before any pullback. The second major resistance level sits at $0.3288.

A fall through the $0.3092 pivot would bring the first major support level at $0.3021 and the 23.6% FIB of $0.3016 into play.

Barring an extended sell-off, however, Dogecoin should avoid sub-$0.29 levels. The second major support level sits at $0.2896.

Looking at the Technical Indicators

First Major Support Level: $0.3021

Pivot Level: $0.3092

First Major Resistance Level: $0.3217

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