Dogecoin and Shiba Inu: Is 0.16000 the Next Target?

Dogecoin chart analysis

Yesterday’s Dogecoin price recovery attempt was stopped at the 0.18000 level. That’s where we encounter resistance and start a retreat that continues today. A new low was formed this morning at the 0.14650 level. For now, we remain above that level and are moving above the 0.15000 level. We see a bullish consolidation in the last few hours that could trigger a bigger recovery.

The next important zone is around the 0.16000 level. If we manage to stay above that level, we will have a good bottom for further bullish continuation. Potential higher targets are the 0.17000 and 0.18000 levels. For a bearish option, we need a negative consolidation and pullback below the 0.14000 level. Thus, we fall below the EMA200 moving average, pulling back under bearish pressure. Potential lower targets are the 0.13000 and 0.12000 levels.

Shiba Inu chart analysis

This morning, the Shiba Inu price pulled back to the 0.00003000 level. We got support at that level and initiated a bullish consolidation up to the 0.00003260 level. After Monday’s jump to a new high, the price is under bearish pressure. We need a break above the EMA50 to partially release the pressure and turn more easily to the bullish side.

Potential higher targets are the 0.00003400 and 0.00003500 levels. For a bearish option, we need a new visit to this morning’s low at 0.00003000. A drop below confirms that the Shiba Inu price has no strength to recover and that a pullback to a new low will follow. Potential lower targets are the 0.00002800 and 0.00002600 levels. Additional support for the price is the EMA200 and the zone around the 0.00002600 level.

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