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Dogecoin and Shiba Inu: New weekly low for Shiba Inu

Dogecoin and Shiba Inu: New weekly low for Shiba Inu

The price of Dogecoin slipped this morning to a new weekly low at the 0.14206 level. Last night Shiba Inu price dropped to a new weekly low at 0.00002233 level.

Dogecoin chart analysis

The price of Dogecoin slipped this morning to a new weekly low at the 0.14206 level. We fell below the EMA200 on Wednesday, which negatively impacted us and continued bearish consolidation. This led to the formation of a new low this morning. After that, a bullish consolidation was initiated up to the 0.14900 level. For now, we have resistance in the tone zone and are again under pressure from the EMA200.

We expect to see another bearish consolidation and a return to the support zone. Potential lower targets are 0.14000 and 0.13500 levels. We need a positive consolidation and a move above 0.15000 and the EMA200 moving average for a bullish option. Then we need to hold there and form a new bottom. Therefore, we can expect to see price resistance at higher levels. Potential higher targets are 0.15500 and 0.16000 levels.

Shiba Inu chart analysis

Last night Shiba Inu price dropped to a new weekly low at 0.00002233 level. After that, the price started a positive consolidation and recovered to the 0.00002300 level. There, we come across the EMA50 moving average, and so far, we have failed to move above it. We need another impulse in order to jump over this obstacle and start further recovery.

Potential higher targets are 0.00002350 and 0.00002400 levels. In the 0.00002375 zone, we have additional resistance in the EMA200 moving average. We need a negative consolidation and pullback down to yesterday’s low for a bearish option. A new visit to that zone will increase bearish pressure and then a drop to a new low is possible. Potential lower targets are the 0.00002200 and 0.00002150 levels.

The post Dogecoin and Shiba Inu: New weekly low for Shiba Inu appeared first on FinanceBrokerage.

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