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Dogecoin Price Analysis: Breaking Support at 0.15800

Dogecoin Price Analysis: Breaking Support at 0.15800

Yesterday afternoon, Dogecoin price broke out of the sideways movement, breaking the support at 0.15800. Shiba Inu has been in a pullback since yesterday after forming a high at the 0.00002767 level.

Dogecoin chart analysis

Yesterday afternoon, Dogecoin price broke out of the sideways movement, breaking the support at 0.15800. Strong bearish impulses lowered the price this morning to 0.14823, forming a new weekly low there.

For now, we managed to stay above it and recover slightly to the 0.15150 level. We have had bullish consolidation in the last few hours and expect to see further recovery.

Potential higher targets are 0.15400 and 0.15600 levels. Additional resistance in the 0.15600 zone is the EMA50 moving average. Dogecoin would have to drop back below the 0.15000 level for a bearish option. With that, we will have to test this morning’s low again.

A new bearish momentum would easily push the price below to a new low and thus extend the pullback. Potential lower targets are 0.14800 and 0.14600 levels.

Shiba Inu Chart Analysis

Shiba Inu has been in a pullback since yesterday after forming a high at the 0.00002767 level. First, we went down to the 0.00002550 level and the EMA200 moving average. During the morning, there is increasing pressure on the Shiba Inu, and we have seen a drop to a new weekly low of 0.00002473.

We are now below the EMA200 moving average, and the price is under even more bearish pressure to move further down.

Potential lower targets are the 0.00002450 and 0.00002400 levels. If the price of the Shiba Inu manages to hold above the 0.00002500 level, it could initiate another positive consolidation from there and move us above the EMA200.

That step will make it much easier for us to trigger a recovery, but before that, we need to hold above the new support at 0.00002550. Potential higher targets are the 0.00002600 and 0.00002650 levels.

The post Dogecoin Price Analysis: Breaking Support at 0.15800 appeared first on FinanceBrokerage.

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