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Dogecoin – Daily Tech Analysis –June 15th, 2021

Dogecoin

Dogecoin rose by 1.11% on Monday. Following a 6.20% rally on Sunday, Dogecoin ended the day at $0.3275.

A bearish morning saw Dogecoin fall to a mid-day intraday low $0.3199 before making a move.

Steering clear of the first major support level at $0.3110, Dogecoin rallied to a late afternoon intraday high $0.3375.

Dogecoin broke through the first major resistance level at $0.3335 before a slide back to sub-$0.3210 levels.

Finding late support, however, Dogecoin move back through to $0.327 levels to deliver the upside on the day.

At the time of writing, Dogecoin was up by 0.23% to $0.3282. A mixed start to the day saw Dogecoin fall to an early morning low $0.3263 before rising to a high $0.3306.

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

DOGEUSD 150621 Hourly Chart

For the day ahead

Dogecoin would need to move back through the $0.3283 pivot to bring the first major resistance level at $0.3367 into play.

Support from the broader market would be needed, however, for Dogecoin to break back through to $0.33 levels.

Barring an extended crypto rally, the first major resistance level and Monday’s high $0.3375 would likely cap any upside.

In the event of a breakout, Dogecoin could test resistance at $0.35 before any pullback. The second major resistance level sits at $0.3459.

Failure to move back through the $0.3283 pivot would bring the first major support level at $0.3191 into play.

Barring an extended sell-off, however, Dogecoin should steer clear of sub-$0.31 levels. The second major support level at $0.3107 should limit the downside.

A sustained fall through the 62% FIB of $0.2882 would form a near-term bearish trend from 8th May’s swing hi $0.7427.

Looking at the Technical Indicators

First Major Support Level: $0.3191

Pivot Level: $0.3283

First Major Resistance Level: $0.3367

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.

Thanks, Bob