Dogecoin and Shiba Inu: Dogecoin is still around 0.06000

Yesterday, the price of Dogecoin slipped to 0.05933 levels at one point. The Shiba Inu price is testing the 0.00000720 support level for the third day.

Dogecoin chart analysis

Yesterday, the price of Dogecoin slipped to 0.05933 levels at one point. After that, we quickly bounced back above the 0.06000 level. This morning, a high was formed at 0.06080, and for now, we encounter resistance there and start a new pullback. We are again turning towards the 0.06000 level and may retest it. A break below it leads to an increase in bearish pressure and a continuation of the price retreat to lower levels. Potential lower targets are 0.05900 and 0.05800 levels.

For a bullish option, we need a positive consolidation and movement of the price of Dogecoin above the 0.06100 level. Then, it is necessary to maintain up there in order to start the continuation of the recovery on the bullish side with a new impulse. Potential higher targets are 0.06150 and 0.06200 levels.

Shiba Inu Chart Analysis

The Shiba Inu price is testing the 0.00000720 support level for the third day. There is increasing pressure on the price in that zone, which could lead to a breakout below and the formation of a new weekly low. Potential lower targets are the 0.00000715 and 0.00000710 levels.

We need a positive consolidation and a price jump to the 0.00000730 level for a bullish option. Then, we need to hold there so that we have a better starting position to continue to the bullish side. Additional pressure in that zone creates the EMA50 moving average. A break above could be characterized as positive for the price and further recovery. Potential higher targets are the 0.00000735 and 0.00000740 levels.

The post Dogecoin and Shiba Inu: Dogecoin is still around 0.06000 appeared first on FinanceBrokerage.