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Dogecoin and Shiba Inu: Dogecoin is holding above 0.06500

Dogecoin and Shiba Inu: Dogecoin is holding above 0.06500

Dogecoin price continues to move below the EMA50 moving average.
Shiba Inu’s price pulled back to 0.00000743 levels yesterday.

Dogecoin chart analysis

Dogecoin price continues to move below the EMA50 moving average. Today’s price is consolidating around the 0.06500 level. We have had a slightly bullish trend since the beginning of the day, with the 0.06450 level. If this consolidation continues, the price of Dogecoin could rise to the 0.06600 level and test the EMA50 moving average there.

We need a positive consolidation and a move above the 0.06600 level for a bullish option. After that, we could expect the price to continue on the bullish side. Potential higher targets are 0.06700 and 0.06800 levels. For a bearish option, we need a negative consolidation and pullback to the 0.06400 support level. A drop below would signal to us the continuation of Dogecoin’s price weakening and the potential formation of a new low. Potential lower targets are 0.06300 and 0.06200 levels.

Shiba Inu chart analysis

Shiba Inu’s price pulled back to 0.00000743 levels yesterday. After that, we see a new bottom formation and the beginning of a bullish consolidation. We quickly bounced back above the 0.00000750 level and above the EMA50 moving average. Today’s high price Shiba Inu is 0.00000760 level, where we have resistance for now.

We need a positive consolidation and a break above the 0.00000760 level for a bullish option. For that, we need to stay above that so that we can start further recovery with a new impulse. Potential higher targets are 0.00000770 and 0.00000780 levels.

For a bearish option, we need a negative consolidation and a price drop below the 0.00000750 level. After that, we could see a further drop in price and the formation of a new lower low. Potential lower targets are the 0.00000740 and 0.00000730 levels.

 

The post Dogecoin and Shiba Inu: Dogecoin is holding above 0.06500 appeared first on FinanceBrokerage.

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