Dogecoin Price Analysis – Support at 0.07840 – What’s Next?
- Dogecoin price received the required support yesterday at the 0.07840 level.
- The Shiba Inu price managed to break through the previous bearish consolidation yesterday and climbed above the EMA200 with momentum.
Dogecoin chart analysis
Dogecoin price received the required support yesterday at the 0.07840 level. This was followed by a bullish consolidation, a jump above 0.07900, and above the EMA200 moving average. The growth did not stop there, and Dogecoin rose to 0.08047 levels this morning. This week’s new high was formed there, and we are holding below it for now.
The price is making a gentle pullback to the 0.07980 level, looking for better support. This could lead to a continuation to the bearish side and a drop to a test of the EMA200 moving average.
Potential lower targets are 0.07960 and 0.07940 levels; EMA200 is a step lower at 0.07920. We need to hold above the 0.07980 support level for a bullish option. After that, we expect a rise above the 0.08000 level. This would increase the bullish momentum, and the Dogecoin price would rise. Potential higher targets are 0.08040 and 0.08060 levels.
Shiba Inu chart analysis
The Shiba Inu price managed to break through the previous bearish consolidation yesterday and climbed above the EMA200 with momentum. Last night, we got support at the 0.00000900 level and continued to grow until this morning at the 0.00000937 level. This week’s new high was formed there.
The price stopped behind at that level, and it made a new pullback to the 0.00000915 level. A good chunk of the previous gain has been erased, and we are now looking at where we can stop this pullback.
The current picture does not favour the Shiba Inu, and we expect to see a decline to lower levels. Potential lower targets are the 0.00000910 and 0.00000905 levels. We need a new positive consolation with a 0.00000915 level for a bullish option.
After forming a bottom at that level, the price would get better support for a bullish continuation. Potential higher targets are 0.00000920 and 0.00000925 levels.
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