Dogecoin and Shiba Inu: Dogecoin presses the 0.08000 level

Dogecoin chart analysis

Yesterday afternoon, we saw the price of Dogecoin pull back to the 0.07935 level. A new weekly low was formed at that location. The price quickly pulled back above 0.08000 and continued its sideways consolidation. Today’s resistance is in the zone around the 0.08080 level, and we need a break above it if we want to see a continuation and further recovery of Dogecoin. Potential higher targets are 0.08100 and 0.08150 levels.

In the zone around the 0.08150 level, we encounter the EMA200 moving average, which could slow the recovery or hinder us from reaching higher levels. A negative consolidation and a return to the support zone are required for a bearish option. A break below would trigger the formation of a new daily low, thereby confirming the chart’s bearish momentum. Potential lower targets are 0.07950 and 0.07900 levels.

Shiba Inu chart analysis

Yesterday, the Shiba Inu price dropped to a new low at 0.00000938. After receiving support, the price moved in the 0.00000940-0.00000955 range. At the top line, we are meeting resistance for now but keeping very close to it. We need an impulse to push the price to start a recovery. Potential higher targets are the 0.00000965 and 0.00000970 levels.

The EMA200 moving average is waiting for us in the zone around the 0.00000970 level, and there, we expect greater resistance to the bullish option. We need a negative consolidation and a test of yesterday’s support zone around 0.00000940 for a bearish option. A break below makes a new low and thus confirms the bearish primacy. Potential lower targets are the 0.00000935 and 0.00000930 levels.

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