Dogecoin and Shiba Inu: Dogecoin fell to 0.07500 yesterday
- The Dogecoin price pulled back to the 0.07500 level yesterday with a bearish impulse, forming this year’s low.
- Shiba Inu’s price pulled back to 0.00000853 levels yesterday.
Dogecoin chart analysis
The Dogecoin price pulled back to the 0.07500 level yesterday with a bearish impulse, forming this year’s low. The last time we were in that zone was in November. After yesterday’s drop, the price quickly pulled back above the 0.08000 level. We managed to get support at that level and move in the 0.08000-0.08400 range. We will need to break above 0.08400 if we plan to see a more concrete recovery from the current position.
Potential higher targets are 0.08600 and 0.08800 levels. EMA50 moving average is in the zone around 0.09000 levels. We need a break below the 0.08000 support level for a bearish option. This would trigger a negative consolidation and a drop in the price of Dogecoin. Potential lower targets are 0.07800 and 0.07600 levels. Depending on the bearish impulse, the value of the new low will also depend.
Shiba Inu chart analysis
Shiba Inu’s price pulled back to 0.00000853 levels yesterday. With that move, this year’s low was formed. We stop there and climb to the 0.00000920 level. The price also receives support at that level and initiates a bullish consolidation above the 0.00000960 level. We now need a continuation of this consolidation to get out of the bearish embrace. Potential higher targets are 0.00000980 and 0.00001000 levels.
The EMA50 moving average awaits us in the zone around the 0.00001020 level. We need a negative consolidation and pullback to support a bearish option at 0.00000920. New pressure in that zone would likely lead to a further decline and a search for support at lower levels. Potential lower targets are 0.00000900 and 0.00000880 levels.
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