Dogecoin and Shiba Inu are sinking lower and lower
- Dogecoin’s new weekly low price was formed last night at the 0.09633 level
- Last night, the Shiba Inu price retreated to a new weekly low at 0.00001338
Dogecoin chart analysis
Dogecoin’s new weekly low price was formed last night at the 0.09633 level. Yesterday, we saw a strong bearish consolidation from the 0.104000 level. On Monday, the price retreated below the EMA 200 moving average, which further strengthened the bearish scenario. We have been in a bearish trend since Friday, and everything indicates that we should see a continuation on the bearish side. Potential lower targets are the 0.09600 and 0.09400 levels.
For a bullish option, we need a positive consolidation of Dogecoin price and a return above the 0.10000 level. Then, the price would have to stabilize at the new position. This proves that he has the strength to continue on the bullish side. Potential higher targets are the 0.10200 and 0.10400 levels.
Shiba Inu chart analysis
Last night, the Shiba Inu price retreated to a new weekly low at 0.00001338. Yesterday’s attempt to hold above the EMA 200 moving average failed, initiating a strong bearish consolidation. Today’s movement takes place in the 0.00001360-0.00001385 range. It is now pushing to the bottom line of the range, which could lead to another move to the bearish side.
Potential lower targets are the 0.00001350 and 0.00001300 levels. We need a price breakout above the 0.00001385 level for a bullish option. After that, we expect to see a move up to the 0.00001400 level. Then, the Shiba Inu could be held there before going into further recovery. Potential higher targets are the 0.00001450 and 0.00001500 levels. We have a large resistance zone at 0.00001450 in the EMA 50 and EMA 200 moving averages.
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