Dogecoin and Shiba Inu: Dogecoin under pressure at 0.21000

Dogecoin chart analysis

Last week Dogecoin price was in a bearish trend up to 0.16733 level. After the formation of a new low, we managed to start a bullish consolidation from there and start a recovery. On Sunday, we return above 0.19000 and the EMA200 moving average. With the new support, the price made a bullish impulse and rose to the 0.21000 level yesterday. There, we form a new weekly high and have resistance in that zone for now. We are back below 0.20000 again and under pressure from the EMA50 moving average.

It is possible that we will go down to the EMA200 again and test the 0.19000 level. We expect new support in that zone and the initiation of a new bullish consolidation. If we fail to hold above, we will be followed by a transition below and a drop to a new weekly low. Potential lower targets are the 0.18500 and 0.18000 levels.

Shiba Inu chart analysis

Last Wednesday Shiba Inu price dropped to 0.00002550 level. After that, we got support there and started a bullish consolidation that continues today. During the weekend, we returned above the EMA200 moving average, and with its support, we started a more concrete recovery. The price stabilized above 0.00002800, only to see a rise above 0.00002950 to a new weekly high today.

Potential higher targets are 0.00003000 and 0.00003050 levels. For a bearish option, a new pullback to EMA200 and 0.00002800 levels. A renewed pressure on that zone could cause the Shiba Inu price to slide below to a new weekly low. This confirms the bearish momentum and we expect further continuation to the bearish side. Potential lower targets are the 0.00002750 and 0.00002700 levels.

The post Dogecoin and Shiba Inu: Dogecoin under pressure at 0.21000 appeared first on FinanceBrokerage.