Dogecoin and Shiba Inu: Dogecoin pulling back below 0.08000

Dogecoin chart analysis

Dogecoin price is in retreat for the second day in a row from 0.08306 to 0.07972 level. This morning, we saw an attempt at recovery, which was stopped at the 0.08000 level with resistance in the EMA200 moving average. Since we haven’t broken above the price is starting to pull back testing today’s support zone. Potential lower targets are 0.07950 and 0.07900 levels.

We would have to go back above the 0.08050 level and the EMA200 moving average for a bullish option. With new support, the price could initiate a bullish consolidation and recovery to higher levels. Potential higher targets are 0.08100 and 0.08150 levels. That would erase part of yesterday’s loss.

Shiba Inu chart analysis

The price of Shiba Inu yesterday continued its retreat from the previous high the day before. Bearish momentum pushed the price down to 0.00000905 levels last night. After that, we get support at that level and recover slightly to the 0.00000915 level. In that zone, we encounter the EMA200 moving average, which increases the pressure on the price, preventing it from moving above it.

This could cause the Shiba Inu to retreat further and test lower support levels. Potential lower targets are the 0.00000900 and 0.00000890 levels. For a bullish option, we need to move to the 0.00000920 level and thus break away from the EMA200. We would have enough space to consolidate and start a bullish consolidation. Potential higher targets are the 0.00000930 and 0.00000940 levels.

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