Dogecoin and Shiba Inu: Shiba Inu retreats to 0.00001000
- Yesterday, we saw a bearish impulse in the price of Dogecoin to the 0.08700 level.
- The Shiba Inu price fell to a new low yesterday at the 0.00001000 level.
Dogecoin chart analysis
Yesterday, we saw a bearish impulse in the price of Dogecoin to the 0.08700 level. We stayed below for a short time, and Dogecoin returned to the 0.09000 level. After that, we go into consolidation and recover to the 0.92000 level. Now, we need a new impulse to start further recovery. In the zone around 0.09300, we encounter the EMA50 moving average, and this is where we might expect to encounter the next resistance.
The breakthrough above is a sign that we have the strength to climb to higher levels. Potential targets are 0.09400 and 0.09500 levels. We need a negative consolidation and pullback to the previous support at the 0.09000 level for a bearish option. A pullback below would increase the bearish pressure, and we would see a continuation of the price decline. Potential lower targets are 0.08900 and 0.08800 levels.
Shiba Inu chart analysis
The Shiba Inu price fell to a new low yesterday at the 0.00001000 level. After resistance at the 0.00001080 level, we saw a pullback to this week’s low. We stayed below briefly, and the Shiba Inu price began to recover. With positive consolidation, we returned to the 0.00001060 level. Now, here we are testing the EMA50 moving average and we would have to move above if we want to see a continuation to the bullish side.
Potential higher targets are 0.00001080 and 0.00001100 levels. We need a negative consolidation and price pullback to support a bearish option at the 0.00001030 level. The price breakout below creates a new day’s low, confirming bearish pressure. Potential lower targets are the 0.00001020 and 0.00001000 levels.
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