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Dogecoin and Shiba Inu: Dogecoin is testing 0.06500 level

Dogecoin and Shiba Inu: Dogecoin is testing 0.06500 level

The Dogecoin price is slowly moving away from yesterday’s high at the 0.0700 level. The Shiba Inu price rose to 0.00000775 levels yesterday, forming a new price high.

Dogecoin chart analysis

The Dogecoin price is slowly moving away from yesterday’s high at the 0.0700 level. The first bearish consolidation yesterday lowered the price to the 0.06400 level. After that, we saw a bullish consolidation up to the 0.06720 level, where we encountered new resistance and started another pullback. The current price of Dogecoin is 0.06555, and based on the image on the chart, we can conclude that we will see a drop below the 0.06500 level soon.

Potential lower targets are 0.06400 and 0.06300 levels. Additional support for the price could be found in the EMA50 moving average in the zone around the 0.06300 level. We need a positive consolidation and a return above the 0.06800 level for a bullish option. Then, we would have to stay up there in order to start teaching positive consolidation from there and start conquering higher levels. Potential higher targets are 0.06900 and 0.07000 levels.

Shiba Inu Chart Analysis

The Shiba Inu price rose to 0.00000775 levels yesterday, forming a new price high. We stayed up there briefly, and a bearish impulse followed up to the 0.00000722 level. There, we get support and make a bullish consolidation up to the 0.00000755 resistance level. Thus, the price makes a lower high and starts a new pullback, bringing us down to 0.00000732, the current level. There are good chances that we will find ourselves in the previous support zone again.

A breakout below tells us that the bearish scenario is more dominant and to continue the pullback. Potential lower targets are the 0.00000720 and 0.00000710 levels. We need a positive consolidation and a return to the 0.00000750 resistance level for a bullish option. Then, we would have to break above to have a chance to go on a further upward move. Potential higher targets are the 0.00000760 and 0.00000770 levels.

The post Dogecoin and Shiba Inu: Dogecoin is testing 0.06500 level appeared first on FinanceBrokerage.

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