Dogecoin and Shiba Inu: Dogecoin recovers from 0.07600

Dogecoin chart analysis

Dogecoin price managed to stop the decline at the 0.07600 level yesterday. After some consolidation, we saw a bullish impulse that moved us above the 0.07800 level. This morning, we consolidated there to a new impulse that takes us close to the 0.08000 level. We are currently at 0.07995 and very close to seeing a break above. In the zone around 0.08100, we encounter the EMA200 moving average, which was our resistance yesterday in an attempt to return above it.

With a break above it, the price would be relieved of the bearish burden and could trigger a further recovery. Potential higher targets are 0.08200 and 0.08300 levels. A pullback to the previous support at 0.07800 is required for a bearish option. Then we need a drop below and a visit to yesterday’s low, and potential lower targets are 0.07600 and 0.07500 levels.

Shiba Inu chart analysis

Shiba Inu’s price dropped to 0.00000843 level yesterday. This year’s new price low was formed at that place. The fall stopped there, and Shiba Inu is starting to recover with bullish consolidation. That consolidation continues today, and the price has climbed to 0.00000900. We expect to see a continuation to the bullish side and climb to higher levels. Potential higher targets are the 0.00000910 and 0.00000920 levels.

The EMA200 moving average is just above the 0.00000920 level and has been our resistance for the past two weeks. The price would have to pull back below the 0.00000880 level for a bearish option. A drop to the new day’s low would increase the pressure on the price to continue sliding to the bearish side. Potential lower targets are the 0.00000860 and 0.00000840 levels.

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