Dogecoin Price Analysis: Pullback Below 0.08500 level
- Yesterday’s Dogecoin price recovery attempt was stopped at the 0.08550 level.
- The previous two-day bullish consolidation of the Shiba Inu price was stopped yesterday at the 0.00000972 level.
Dogecoin chart analysis
Yesterday’s Dogecoin price recovery attempt was stopped at the 0.08550 level. There, we encounter resistance and begin a pullback below the EMA200 and 0.08450 levels. Today, we also failed to find support there, which led to a drop below the 0.08320 level. We are close to testing this week’s low in the 0.08200 zone. Potential lower targets are 0.08150 and 0.08100 levels.
We need a return above 0.08500 and the EMA200 moving average for a bullish option. With their support, it would be easier for us to initiate a bullish consolidation and further growth of the price of Dogecoin. A new impulse would move us above the 0.08550 level, and thus, we would jump over the previous two-day resistance. Potential higher targets are 0.08600 and 0.08700 levels.
Shiba Inu chart analysis
The previous two-day bullish consolidation of the Shiba Inu price was stopped yesterday at the 0.00000972 level. From there, we start a pullback and fall first below the EMA200 and the 0.00000960 level. The price then came under more bearish pressure, and we saw a continuation of the pullback all the way to the 0.00000940 level. For now, we are maintaining above it, but it could easily fall below and form a new low.
Potential lower targets are 0.00000930 and 0.00000920 levels. If we manage to stay above today’s low price, it could start a new consolidation. Retracement to 0.00000960 and EMA200 resistance level. A move above them would increase optimism for the bullish side. Potential higher targets are 0.00000970 and 0.00000980 levels.
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