Dogecoin and Shiba Inu: Shiba Inu at new low at 0.00002284
Yesterday we saw a bullish attempt by Dogecoin price up to the 0.16346 level.
This morning we saw a strong bearish impulse in the Shiba Inu price down to 0.00002284.
Dogecoin chart analysis
Yesterday we saw a bullish attempt by Dogecoin price up to the 0.16346 level. At that level, we encounter resistance and have turned to the bearish side again. By pulling back below the 0.16100 level, we drop below the EMA200 moving average, which further increases the pressure to continue further down. That is what we are looking at today, with the formation of a low at the 0.15720 level.
We are testing the weekly open price in that zone and hope to stay above it on the positive side. If we happen to see an impulse below, then Dogecoin will form a new weekly low. Potential lower targets are 0.15600 and 0.15500 levels. For a bullish option, the price would have to return above the 0.16000 level first. With this, it gets the support of the EMA50 moving average and it will be easier for it to initiate a further recovery from there. Potential higher targets are 0.16100 and 0.16200 levels.
Shiba Inu chart analysis
This morning we saw a strong bearish impulse in the Shiba Inu price down to 0.00002284. After forming a new weekly low, the price quickly recovered to the 0.00002400 level. The current consolidation tells us to expect further recovery to the daily open price. This brings us back to the 0.00002450 level, the weekly open price. With this, we erase this morning’s decline and turn to the bullish side.
Potential higher targets are 0.00002500 and 0.00002550 levels. For a bearish option, we need a negative consolidation and pullback, to begin with, below the 0.00002350 level. After that, the bearish momentum intensifies, and Shiba Inu will have to look for a new level of support. Potential lower targets are 0.00002300 and 0.00002250 levels.
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