Dogecoin and Shiba Inu: Dogecoin in a slight uptrend
- The price of Dogecoin has moved significantly from yesterday’s low, and further indications suggest that we could see a bigger recovery
- Last night, the Shiba Inu price received support at the 0.00001360 level
Dogecoin chart analysis
The price of Dogecoin has moved significantly from yesterday’s low, and further indications suggest that we could see a bigger recovery. We are now at 0.10100 and close to testing the EMA 50 moving average. With a break above, the moving average will support us, and it will be easy for us to continue on the bullish side. Potential higher targets are the 0.10200 and 0.10400 levels.
Additional significant resistance for Dogecoin is the EMA 200 moving average in the 0.10500 zone. For a bearish option, we need a negative consolidation and a price drop below the 0.09900 level. With that, we move to a new daily low and return to the previous support zone. A new move to that zone would again increase the pressure on the price of Dogecoin to break below to a new low. Potential lower targets are 0.09600 and 0.09500 levels.
Shiba Inu chart analysis
Last night, the Shiba Inu price received support at the 0.00001360 level. After that, a bullish consolidation was initiated to today’s high at 0.00001420. We have received support from the EMA50 moving average and expect to see further progress to the bullish side. Potential higher targets are the 0.00001440 and 0.00001460 levels. New support in the EMA 200 would be obtained by crossing above the 0.00001440 level.
For a bearish option, we need a negative consolidation and a return below the 0.00001380 level. Thus, the price moves below the daily open level to the negative side. This will strengthen the bearish momentum for the Shiba Inu to continue its retreat to new higher levels. Potential lower targets are the 0.00001340 and 0.00001320 levels.
The post Dogecoin and Shiba Inu: Dogecoin in a slight uptrend appeared first on FinanceBrokerage.
