Dogecoin slipped to new weekly support this morning
- Dogecoin’s price failed to break above 1.10100 and the EMA 200 moving average yesterday
- The Shiba Inu price was under pressure yesterday in the 0.00001360 zone
Dogecoin chart analysis
Dogecoin’s price failed to break above 1.10100 and the EMA 200 moving average yesterday. Failure to continue on the bullish side triggered another pullback. The price quickly retreated below the EMA 50 moving average, which added to the bearish momentum. Support at 0.09700 was broken, and the decline continued this morning to 0.09184. Even this week’s support at the 0.09400 level failed to maintain a strong bearish impulse.
Dogecoin quickly stabilized and is now at 0.09650, close to the daily open price. A move above will wipe out this morning’s decline and return the price to the positive side. Potential higher targets are the 0.09800 and 0.09900 levels. The EMA 200 moving average is waiting for us in the 0.10000 zone.
Shiba Inu chart analysis
The Shiba Inu price was under pressure yesterday in the 0.00001360 zone. This produced a bearish impulse and a price drop below the 0.00001340 level. After that, we saw an attempt to consolidate in the 0.00001320-0.00001340 range. The Shiba Inu did not last, and we saw the initiation of a bearish consolidation this morning at the 0.00001244 level. Very quickly, we got support here and returned to the 0.00001300 level.
The price is again above the weekly open price, and the chances of starting a new recovery on the bullish side are growing again. Potential higher targets are 0.00001360 and 0.00001380 levels. The EMA 200 moving average could again be a resistance for us in the zone of 0.00001380 levels. We need a pullback below the weekly open price for the bearish side. This brings us back to the negative side. After that, we can expect an increase in bearish pressure on the Shiba Inu to continue further retreat. Potential lower targets are 0.00001300 and 0.00001280 levels.
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