Connect with us

Hi, what are you looking for?

Trading Secrets

Dogecoin and Shiba Inu: Dogecoin falls to new weekly low

Dogecoin and Shiba Inu: Dogecoin falls to new weekly low

The price of Dogecoin fell this morning to a new weekly low of 0.15965. Shiba Inu price is pulling back from yesterday’s high at 0.00002940 level.

Dogecoin chart analysis

The price of Dogecoin fell this morning to a new weekly low of 0.15965. Before that, we were in consolidation around the 0.16500 level. The price was supported by the EMA200 moving average until this morning, when we saw a bearish impulse and a drop to this morning’s low. Currently, Dogecoin is still in the zone of 0.16000 levels, and it remains under pressure to slide to a new low.

Potential lower targets are 0.15900 and 0.15800 levels. For a bullish option, we need to stabilize above the 0.16000 level. Then, we need an impulse that would trigger a positive consolidation. After that, we can expect further recovery. Potential higher targets are 0.16100 and 0.16200 levels.

Shiba Inu chart analysis

Shiba Inu price is pulling back from yesterday’s high at 0.00002940 level. With the bearish consolidation, we went down to the 0.00002650 level last night. Then, this morning, we saw an attempted recovery to the 0.00002580 level. There, the price encountered a new resistance and formed a lower high compared to yesterday. A bearish consolidation was initiated from that level and a drop to a new two-day low at 0.00002630.

The Shiba Inu is still under pressure and we can expect a continued pullback to more stable support. Potential lower targets are 0.00002600 and 0.00002550 levels. Additional support for the price is the EMA200 moving average in the zone of 0.00002550 levels. We need to go back above the EMA50 and the 0.00002700 level for a bullish option. If we succeed in that, we will have the opportunity to continue on the bullish side.

The post Dogecoin and Shiba Inu: Dogecoin falls to new weekly low 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...