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Dogecoin and Shiba Inu: Dogecoin breaks below 0.12200 level

Dogecoin and Shiba Inu: Dogecoin breaks below 0.12200 level

Dogecoin price is in bearish consolidation today from the 0.12550 level. The Shiba Inu price is falling to a new weekly low this morning at the 0.00001680 level.

Dogecoin chart analysis

Dogecoin price is in bearish consolidation today from the 0.12550 level. The price drop took us to a new weekly low of 0.12095. For now, we are slightly recovering to 0.12200. It is easily possible that we will see the impulse below and create a lower low. Potential lower targets are 0.12000 and 0.11900 levels. The price will fall below the weekend support by descending to these levels.

We need Dogecoin price stabilization above the 0.12200 level for a bullish option. After that, we can expect the initiation of positive consolidation and the transition to the bullish side. Potential higher targets are 0.12300 and 0.12400 levels. In the 0.12400 zone, we have a big resistance in the EMA200 moving average and the weekly open price.

Shiba Inu chart analysis

The Shiba Inu price is falling to a new weekly low this morning at the 0.00001680 level. Before that, we had an attempt to break above the 0.00001740 level. The price did not succeed in that, and the additional pressure in that zone created the EMA200 moving average. We’ve had resistance at that moving average since the beginning of this week, and the price doesn’t have enough strength to move above it.

Now there are good chances to see a drop to a new lower low and thereby extend the bearish scenario. Potential lower targets are 0.00001660 and 0.00001640 levels. We should once again climb up to the EMA200 for a bullish option. Then, we need to stabilize there and jump over that resistance with a bullish impulse. Potential higher targets are 0.00001760 and 0.00001780 levels.

The post Dogecoin and Shiba Inu: Dogecoin breaks below 0.12200 level appeared first on FinanceBrokerage.

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