Dogecoin Tech Analysis – Everything You Need To Know! >> Do you want to know the daily technical analysis of one of the significant coins? Then keep reading the post below.
Are you a Dogecoin investor, or are you planning to start your investment? Then knowing its overall technical analysis will help you trade the token strategically. Suppose your search on Dogecoin Tech Analysis led you to this guide, then we must say you have reached the right place.
There are more than 6000 cryptocurrencies traded publicly Worldwide. Dogecoin is one of the popular coins in the finance market; keep reading the post for more information.
About Dogecoin
Dogecoin is digital money founded by Billy Markus and Jackson Palmer with the ticker symbol “DOGE,” which was initially launched on December 6, 2013.
It works on the platforms like Microsoft Windows, iOS, Android, and Linux. Elon Musk tweeted about Dogecoin many times, boosting its favor Worldwide. Now let us check its overall analysis.
Dogecoin Tech Analysis
- On Wednesday, Dogecoin hiked by 11.80%, reversing a loss of 1.84% from the previous day, and ended its day at $0.1905.
- Before finding any support, Dogecoin’s value slides down to $0.1684 in the early morning.
- After the first significant support in the late afternoon, it reached a slight high of $0.2145.
- With the frequent fluctuation in the value and after the first, second, and third primary resistance level, Dogecoin ended the day at $0.19.
- At the time of writing this post, its value was found to be $0.1887, which was down by 0.95%.
Dogecoin Tech Analysis – For the Day Ahead
- To bring back the first primary resistance level at $0.2139, Dogecoin would need to move back through $0.1911.
- To move back to $.21, Dogecoin would need significant support from the broader network.
- Wednesday’s high and the first significant resistance level is $0.2145.
- In another breakout, Dogecoin test resistance at $0.23 levels. The second primary resistance level is at $0.2372.
- It failed to move back to the $0.1911 pivot may bring the first significant support level at $0.1678.
- Experiencing another sell-off, however, the token should clear of sub-levels at $0.16. The second primary support level is at $0.1450.
Some Technical Details
Now let us learn more about Dogecoin Tech Analysis in this section:
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- First Major Resistance Level: $0.2139
- First Major Support Level: $0.1678
- Pivot Level: $0.1911
- 38.2% FIB Retracement Level: $0.3859
- 23.6% FIB Retracement Level: $0.3016
- 62% FIB Retracement Level: $0.5221. You may read more details here.
The Final Verdict
The token price that reached sky-high can shatter to earth in the next minute so that nothing can be predicted accurately in the Crypto world. So, we suggest you analyze its technical details thoroughly and then go for it, check what you need, and invest in how much you can bear the loss. Here are the things you must know before investing in any crypto.
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