Connect with us

Hi, what are you looking for?

Deluxe Investment Group – Investing and Stock NewsDeluxe Investment Group – Investing and Stock News

Economy

Dogecoin and Shiba Inu: Dogecoin is in a mild bearish trend

Dogecoin and Shiba Inu: Dogecoin is in a mild bearish trend

On Wednesday, October 24, the price of Dogecoin retreated to a new weekly low at the 0.13112 level
The Shiba Inu price returned to a new weekly low of 0.00001704 on Wednesday, October 24

Dogecoin chart analysis

On Wednesday, October 24, the price of Dogecoin retreated to a new weekly low at the 0.13112 level. In that zone, the price encounters the EMA 200 moving average, which stops further retreat. Very quickly, a bullish consolidation to the 0.14300 level was initiated from there. Dogecoin met new resistance here this morning, forming a new daily high. We lose bullish momentum again and turn to the bearish side.

The price is now at 0.13860 and on the way to the previous low. Potential lower targets are 0.13600 and 0.13400 levels. We expect Dogecoin to try to test the 200 EMA in the 0.13600 zone. For a bullish option, we need a price return above the 0.140000 level. With that, we move above the daily open level to the positive side. The price would have the initial momentum to initiate a bullish consolidation. Potential higher targets are 0.14200 and 0.14400 levels.

 

Shiba Inu chart analysis

The Shiba Inu price returned to a new weekly low of 0.00001704 on Wednesday, October 24. After a short stay at that level, the price started a recovery this morning to the 0.00001795 level. There, we met the EMA 50 moving average, which did not allow us to continue on the bullish side. Shiba Inu is now forced to retreat to the daily open level of 0.00001760.

If the current price pressure continues, we will see a break below and the formation of a new daily low. This confirms that the Shiba Inu is weak and that we will see it at a new low. Potential lower targets are the 0.00001740 and 0.00001720 levels. For the bullish option, we hope that the daily open level will hold and the price will remain above. After that, we need an impulse to reach the 0.00001800 level. With that step, we move above the EMA 50 and get its support to continue the bullish scenario. Potential higher targets are the 0.00001820 and 0.00001840 levels.

 

The post Dogecoin and Shiba Inu: Dogecoin is in a mild bearish trend appeared first on FinanceBrokerage.

Become a VIP member by signing up for our newsletter. Enjoy exclusive content, early access to sales, and special offers just for you! As a VIP, you'll receive personalized updates, loyalty rewards, and invitations to private events. Elevate your experience and join our exclusive community today!



    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    You May Also Like

    Latest News

    Florida Gov. Ron DeSantis (R) needs a massive infusion of cash in the next two months of the Republican presidential primary race to help...

    Editor's Pick

    ERP or Enterprise Resource Planning solutions help businesses of all sizes manage their daily business operations. First used in the 1990s, ERP systems have...

    Economy

    Amp’s 223.67% Leap: Analyzing the Sudden Spike The cryptocurrency community has recently been set abuzz by the phenomenal rise of Amp (AMP). Just in...

    Latest News

    The United States could be on track for a Joe Biden-Donald Trump rematch in 2024, but it’s the president’s son Hunter Biden who earned...

    Disclaimer: Deluxeinvestmentgroup.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2024 deluxeinvestmentgroup.com