Dogecoin and Shiba Inu: Doge under pressure below 0.16000

Dogecoin chart analysis

Over the weekend, Dogecoin’s price climbed up to 0.16586 levels. We couldn’t go any further and initiated a pullback down to the 0.15500 level. After the new support, the price consolidated at 0.15800, from where we see new bullish impulses above the 0.16000 level. On Monday, we climbed to the 0.16343 level, after which we moved back down to 0.15800 again. Thus, we put new pressure on the weekly open price, which could have a negative impact on the further movement.

Potential lower targets are 0.15600 and 0.15400 levels. For a bullish option, we need to get back above the 0.16200 level to get rid of the bearish pressure. We get additional support there in the EMA200 and it will be much easier for us to proceed to the bullish side. Potential higher targets are 0.16400 and 0.16600 levels.

Shiba Inu chart analysis

On Sunday, the Shiba Inu price climbed to the 0.00002822 level, forming a new high there. We stopped there and went back down to support at the 0.00002550 level. On Monday, the price stabilized above 0.00002650, leading to a move to the 0.00002800 level. We have a new resistance at that level and are starting a slight pullback. We retrace back to 0.00002650 and look for support at the EMA50 moving average.

Today’s movement is in a tight range in the 0.00002600-0.00002700 range. The picture is more bearish because we are unable to form a higher high. Potential lower targets are the 0.00002550 and 0.00002500 levels. By returning above the 0.002750 level, the price of Shiba Inu would show that there are indications that we will start a further recovery on the bullish side. Potential higher targets are 0.00002800 and 0.00002850 levels.

The post Dogecoin and Shiba Inu: Doge under pressure below 0.16000 appeared first on FinanceBrokerage.