Dogecoin and Shiba Inu: Dogecoin pulls back below 0.08000

Dogecoin chart analysis

Over the weekend, the price of Dogecoin initiated a bearish consolidation from the 0.08700 level. We got the first support in the zone around the 0.07900 level, together with the EMA50 moving average. After that, we see a bullish consolidation and recovery to the 0.08200 level. At that level, we encounter new resistance and begin a pullback that continues today. This week’s new low was formed at the 0.07600 level, and thus, we have confirmation of bearish momentum.

Potential lower targets are 0.07500 and 0.07400 levels. We need a positive consolidation and a move above the 0.07900 level and the EMA50 moving average for a bullish option. Then, we would have to hold up there in order to start a further recovery to the bullish side with a new impulse. Potential higher targets are 0.08000 and 0.08100 levels.

Shiba Inu chart analysis

The price of Shiba Inu has been in retreat for ten days. And this week, we see the continuation of the bearish trend up to the 0.00000830 level. This low was formed this morning, and the price remains under pressure in that zone. It could have a negative effect if we see a continuation of the price retreat to lower levels. Potential lower targets are the 0.00000820 and 0.00000810 levels.

We need a positive consolidation and price movement above the 0.00000850 level for a bullish option. Then, we need to hold above there in order to have the opportunity to initiate a continuation of price resistance at higher levels. Potential higher targets are the 0.00000860 and 0.00000870 levels. The EMA50 moving average is in the zone around 0.00000860 levels; there, we could have additional pressure on the price.

The post Dogecoin and Shiba Inu: Dogecoin pulls back below 0.08000 appeared first on FinanceBrokerage.