Dogecoin and Shiba Inu: Dogecoin is holding above 0.06000

Yesterday, we saw a bullish attempt by Dogecoin price to climb to the 0.06140 level. The Shiba Inu price fell to a new low yesterday at the 0.00000714 level.

Dogecoin chart analysis

Yesterday, we saw a bullish attempt by Dogecoin price to climb to the 0.06140 level. We encountered resistance there; additional pressure in that zone creates the EMA50 moving average. This was followed by a quick pullback to support at the 0.06020 level. Since then, we have been in a slight bullish consolidation with the formation of a high at the 0.06090 level.

We need a break above the 0.06100 level to get rid of the bearish pressure and start the recovery. In the zone around the 0.06120 level, we come across the EMA50 moving average, and we have to jump over it to continue on the bullish side. Potential higher targets are 0.06160 and 0.06180 levels.

Shiba Inu chart analysis

The Shiba Inu price fell to a new low yesterday at the 0.00000714 level. We managed to get support at that level and start recovery. Today’s high price is 0.00000727 level, and based on the previous consolidation, we could expect a continuation on the bullish side. Potential higher targets are the 0.00000730 and 0.00000735 levels. Additional price resistance could be found in the EMA50 moving average in the zone around the 0.00000730 level.

We need a negative consolidation and another pullback to the previous support in the zone around the 0.00000714 level for a bearish option. A break below would form a new low and thus confirm the bearish scenario. Potential lower targets are the 0.00000710 and 0.00000705 levels.

The post Dogecoin and Shiba Inu: Dogecoin is holding above 0.06000 appeared first on FinanceBrokerage.