Dogecoin and Shiba Inu: Dogecoin falls to new weekly low

Dogecoin chart analysis

The price of Dogecoin fell this morning to a new weekly low of 0.15965. Before that, we were in consolidation around the 0.16500 level. The price was supported by the EMA200 moving average until this morning, when we saw a bearish impulse and a drop to this morning’s low. Currently, Dogecoin is still in the zone of 0.16000 levels, and it remains under pressure to slide to a new low.

Potential lower targets are 0.15900 and 0.15800 levels. For a bullish option, we need to stabilize above the 0.16000 level. Then, we need an impulse that would trigger a positive consolidation. After that, we can expect further recovery. Potential higher targets are 0.16100 and 0.16200 levels.

Shiba Inu chart analysis

Shiba Inu price is pulling back from yesterday’s high at 0.00002940 level. With the bearish consolidation, we went down to the 0.00002650 level last night. Then, this morning, we saw an attempted recovery to the 0.00002580 level. There, the price encountered a new resistance and formed a lower high compared to yesterday. A bearish consolidation was initiated from that level and a drop to a new two-day low at 0.00002630.

The Shiba Inu is still under pressure and we can expect a continued pullback to more stable support. Potential lower targets are 0.00002600 and 0.00002550 levels. Additional support for the price is the EMA200 moving average in the zone of 0.00002550 levels. We need to go back above the EMA50 and the 0.00002700 level for a bullish option. If we succeed in that, we will have the opportunity to continue on the bullish side.

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