Connect with us

Hi, what are you looking for?

Trading Secrets

Dogecoin and Shiba Inu: Dogecoin under pressure at 0.08200

Dogecoin and Shiba Inu: Dogecoin under pressure at 0.08200

Dogecoin price continues bearish movement after jumping to 0.08200 level yesterday. During the weekend, Shiba Inu prices were in a slight bearish consolidation.

Dogecoin chart analysis

Dogecoin price continues bearish movement after jumping to 0.08200 level yesterday. There, we encounter a new resistance and form a lower high. The price starts with a new bearish consolidation and falls below the 0.08000 level. We are currently at 0.07900 and could see a continuation of the decline to lower levels. The additional pressure creates a muted pressure to move back above the EMA50 moving average. Potential lower targets are 0.07800 and 0.07600 levels.

We need to go back above 0.08200 for a bullish option and retest the EMA50 moving average. A breakthrough above would gain strength to start a further recovery on the bullish side. Potential higher targets are 0.08400 and 0.08600 levels.

Shiba Inu Chart Analysis

During the weekend, Shiba Inu prices were in a slight bearish consolidation. Early on Monday, we saw a decline and the formation of a new low at the 0.00000850 level. We managed to stop there and initiate a bullish consolidation all the way to the 0.00000960 level. There, we encounter resistance and slightly pull back to the 0.00000930 level. Price is currently under pressure to continue further retreat, looking for support at a lower level.

Potential lower targets are the 0.00000920 and 0.00000900 levels. We need a positive consolidation and a return above the 0.00000960 previous resistance level for a bullish option. Then, we need to try to hold up there and test the EMA50 moving average in the zone around the 0.00000980 level. A break above means that the price is releasing the bearish pressure and that we continue on the bullish side. Potential higher targets are 0.00001000 and 0.00001020 levels.

The post Dogecoin and Shiba Inu: Dogecoin under pressure at 0.08200 appeared first on FinanceBrokerage.

Enter your email address below and we’ll send you our best practices.

    You can unsubscribe at any time. Redstatefoundation respects your privacy and strives to be transparent about our data collection practices. Please read our Privacy Policy and Terms of Use.

    You May Also Like

    Trading Secrets

    What is the marginal rate of substitution and its formula? Key Takeaways: Trade-offs and Satisfaction: MRS shows the trade-offs consumers are willing to make...

    Trading Life

    Laura Wong Hon Chan is an interest rate options trader, who is currently a director at Bank of America Merrill Lynch in New York....

    Trading Secrets

    In this episode of StockCharts TV‘s The MEM Edge, Mary Ellen reviews what’s driving the markets higher and what to be on the lookout...

    Trading Secrets

    SPX Monitoring Purposes: Long SPX on 10/10/22 at 3612.39; sold 12/13/22 at 3669.91 = gain 1.59%. Monitoring Purposes GOLD: Long GDX on 10/9/20 at...