Dogecoin and Shiba Inu: Dogecoin continues to recover
- Dogecoin price recovered after falling to 0.89980 level.
- The Shiba Inu price managed to initiate a bullish consolidation yesterday that continues today.
Dogecoin chart analysis
Dogecoin price recovered after falling to 0.89980 level. At the end of the day, we saw a rise to the 0.09800 level. Then we stopped there, and so far, we are consolidating in the 0.09500-0.09800 range. We have additional support in the EMA50 moving average, and based on that, we expect to see further recovery. Potential higher targets are 0.09900 and 0.1000 levels.
We need to break below 0.09500 and the EMA50 moving average for a bearish option. Thus, we would form a new daily low, weakening Dogecoin’s price. After that, we would see a further retreat to lower levels, and potential targets are 0.09400 and 0.09300 levels.
Shiba Inu chart analysis
The Shiba Inu price managed to initiate a bullish consolidation yesterday that continues today. We formed a new high at the 0.00001020 level in the previous hour. If this consolidation continues, the price could again test the resistance zone from the beginning of the week. Potential higher targets are the 0.00001030 and 0.00001040 levels. This week’s high is at the 0.00001059 level.
For a bearish option, we need to go below the 0.00001000 level first. Then, with negative consolidation, we would start a further pullback, which would bring us below yesterday’s high. This would lead to the formation of a new one and confirm the increased bearish momentum on the chart. Potential lower targets are 0.00000970 and 0.00000960 levels. In the zone around 0.00000970, we could find support in the EMA50 moving average.
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