Dogecoin and Shiba Inu stable as of this morning on support
- Dogecoin’s picture stayed mostly the same from Tuesday as we continued to move sideways.
- The price of Shiba Inu successfully stabilized above the weekly open price of 0.00001334.
Dogecoin chart analysis
Dogecoin’s picture stayed mostly the same from Tuesday as we continued to move sideways. A slight positive move is the price crossing above the EMA 50 moving average, and now we have its support. That should further support Dogecoin to continue its bullish run. We are a little short of stabilizing above the 0.10000 level. Once we succeed in this, we can initiate a bullish consolidation to higher levels.
Potential higher targets are the 0.10500 and 0.11000 levels. Additional resistance to further recovery is the 200 EMA and the 0.11000 zone. For a bearish option, we need a negative consolidation and a pullback of the Dogecoin price below the 0.09500 level. In this way, we move to a new daily low, and the pressure on the price to start a further retreat increases. Potential lower targets are the 0.09000 and 0.08500 levels.
Shiba Inu chart analysis
The price of Shiba Inu successfully stabilized above the weekly open price of 0.00001334. We found support in the EMA 50 moving average, which increases the chances of seeing a further recovery to higher levels. By moving above 0.00001400, the price would climb to a new weekly high and thereby confirm its determination to continue its growth. Potential higher targets are the 0.00001450 and 0.00001500 levels.
Shiba Inu in the zone of 0.00001450 encounters the EMA 200 moving average, which could provide new resistance to further recovery. For a bearish option, we need a negative consolidation and a price drop to the 0.00001250 level. This would move us to a new daily low and confirm that we do not have the strength to maintain ourselves on the bullish side. Potential lower targets are the 0.00001200 and 0.00001150 levels.
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