The Dogecoin is moving below 0.12800 this morning
- Dogecoin’s bullish attempt yesterday was stopped at the 0.13509 level.
- On Monday, the Shiba Inu price encountered resistance at the 0.00001720 zone.
Dogecoin chart analysis
Dogecoin’s bullish attempt yesterday was stopped at the 0.13509 level. After that, we saw a consolidation in that zone but without momentum to continue on the bullish side. This led to the initiation of a bearish consolidation and a descent to the 0.12711 level this morning. So far, the price has moved in the 0.12700-0.13000 range. We are under pressure from the EMA 200 moving average, which could negatively affect Dogecoin’s further trend.
A new impulse below this level would form a new weekly low and thus trigger a continuation to the bearish side. Potential lower targets are 0.12600 and 0.12400 levels. For a bullish option, we need to see a price jump above the 0.13000 level. This moves us above the EMA 200 and this morning’s movement range. After that, Dogecoin could start a bullish consolidation. Potential higher targets are 0.13200 and 0.13400 levels. We are also hoping for a test of this week’s previous high.
Shiba Inu chart analysis
On Monday, the Shiba Inu price encountered resistance at the 0.00001720 zone. The inability to continue on the bullish side triggered a bearish consolidation below the EMA 200 moving average. This put more pressure on the Shiba Inu, which had to continue retreating. This morning, the price fell to a new weekly low at the 0.00001649 level. For now, we are successfully holding above and recovering to the 0.00001680 weekly open price.
If we encounter new resistance here, the Shiba Inu will again turn to the bearish side. However, it’s important to remember that there is also potential for growth. A bullish option would be a return above the 0.00001700 level. With the support of the EMA 200 moving average, it will be easier for us to start further growth on the bullish side. Potential higher targets are the 0.00001720 and 0.00001740 levels, which could signal a positive turn for Shiba Inu.
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