The Crypto Daily Movers and Shakers August 19, 2021

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Dogecoin

Dogecoin rose 1.24% on Wednesday. Partially reversing a 6.26% drop from Tuesday, Dogecoin ended the day at $ 0.3031.

A mixed start to the day saw Dogecoin fall to an early morning intraday low of $ 0.2770 before moving.

Dogecoin broke through the first major support level at $ 0.2823 before climbing back to an intraday high of $ 0.3254 in the late afternoon.

While below the first major resistance level at $ 0.3284, Dogecoin broke through the FIB 23.6% from $ 0.3016 to end the day at levels of $ 0.3030.

As of this writing, Dogecoin was down 0.23% to $ 0.3024. A mixed start to the day saw Dogecoin hit an early morning high of $ 0.3069 before falling to a low of $ 0.2984.

While Dogecoin left major support and resistance levels untested, Dogecoin briefly fell to 23.6% FIB from $ 0.3016.

For the day ahead

Dogecoin should avoid a fall through the $ 0.3018 pivot and 23.6% FIB to bring into play the first major resistance level at $ 0.3267.

However, broad market support would be needed for Dogecoin to return to levels of $ 0.32.

Barring a prolonged crypto rally, the first major resistance level and resistance at $ 0.33 would likely cap any rise.

In the event of a breakout, Dogecoin could test the second major resistance level at $ 0.3502.

A fall through the pivot at $ 0.3018 and the 23.6% FIB of $ 0.3016 would bring into play the first major support level at $ 0.2783.

Unless an extended sell-off, however, Dogecoin should avoid the second major support level at $ 0.2534.

Watch technical indicators

First major support level: $ 0.2783

Pivot level: $ 0.3018

First major resistance level: $ 0.3267

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 originally appeared on FX Empire

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