Dogecoin and Shiba Inu: Dogecoin is holding above 0.07000

Dogecoin chart analysis

The price of Dogecoin this morning formed a new high at the 0.07292 level. After that, we see a pullback to the 0.07000 level and a new bullish impulse that brings us back above the 0.07200 level again. We could expect to see a break above the previous high and the formation of a new one soon. Potential higher targets are 0.07400 and 0.07500 levels.

We need a negative consolidation and pullback below the previous support at the 0.07000 level for a bearish option. This would have the effect of increasing the bearish pressure on the price and starting a deeper retreat. Potential lower targets are 0.06900 and 0.06800 levels. EMA50 is at 0.06500 level, currently far from the current position.

Shiba Inu chart analysis

The Shiba Inu price this morning formed a new weekly high at the 0.00000825 level. So we managed to break above yesterday’s high and form a new one. Then followed a pullback to the 0.00000790 level, where we got support and started a new bullish impulse. Currently, the resistance is at the 0.00000820 level, and we need a break above it in order to continue the rally to higher levels. 

Potential higher targets are the 0.00000830 and 0.00000840 levels. We need a negative consolidation and a new pullback below the 0.00000790 level for a bearish option. A break below would put Shiba Inu’s price under more pressure to continue its pullback. Potential lower targets are 0.00000780 and 0.00000770 levels.

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