Dogecoin and Shiba Inu: Dogecoin under pressure at EMA 200
- Over the weekend, the Dogecoin price climbed to 0.11099, forming a new weekly high.
- Over the weekend, Shiba Inu’s price climbed to 0.00001468, forming a new high.
Dogecoin chart analysis
Over the weekend, the Dogecoin price climbed to 0.11099, forming a new weekly high. On Sunday, the price lost its previous momentum and began a retreat, retreating to 0.10000 by the end of the day. As Monday began, Dogecoin also stabilized and initiated a new bullish consolidation. This has led to us seeing the price this morning at the 0.10900 level.
For now, we fail to move further to the bullish side but take a step down below 0.10500 and the EMA 200 moving average. The 200 EMA could further increase the pressure on Dogecoin to continue its pullback. Potential lower targets are 0.10200 and 0.10000 levels. If we manage to get back above 0.10500 and the 200 EMA, we could see new bullish momentum and a return to the previous bullish consolidation. Potential higher targets are 0.10800 and 0.11000 levels.
Shiba Ina chart analysis
Over the weekend, Shiba Inu’s price climbed to 0.00001468, forming a new high. Very quickly, we turned to the bearish side from there, and the price started to fall. By the end of the weekend, we saw a pullback to support at the 0.00001328 level. On Monday, the Shiba Inu price finds support at that level and begins a bullish consolidation up to 0.00001410 and the EMA 200 moving average.
We encountered resistance here and are holding below this level for now. For a bullish option, we need a strong bullish impulse above and the formation of a new daily high. After that we can hope for further recovery. Potential higher targets are 0.00001420 and 0.00001440 levels. If we fail to get back above the 200 EMA, Shiba Inu will have to start a pullback. This would force her to go back and test the previous support zone.
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