Dogecoin and Shiba Inu: Dogecoin back to 0.06000 level
- Dogecoin price dropped to 0.06000 level yesterday.
- This week’s Shiba Inu low price was formed yesterday at the 0.00000718 level.
Dogecoin chart analysis
Dogecoin price dropped to 0.06000 level yesterday. It quickly gained support at that level and returned above the 0.06050 level. After that, we saw a bullish consolidation and a jump to the 0.06125 level, where we encountered new resistance. Dogecoin starts a new bearish consolidation, but this time only up to support at the 0.06080 level.
The pressure is now in this zone, which could lead to continued weakening and descent to lower levels. Potential lower targets are 0.06070 and 0.06060 levels. We need a positive consolidation and a jump above the 0.06100 level for a bullish option. Then we need to stay there so that we can start further recovery from that place. Potential higher targets are 0.06120 and 0.06130 levels.
Shiba Inu chart analysis
This week’s Shiba Inu low price was formed yesterday at the 0.00000718 level. After that, the price makes a bullish consolidation and begins a recovery. We managed to climb up to the 0.00000733 level, and that’s where we meet today’s resistance. From that level, the price makes a pullback to the 0.00000726 level and again approaches yesterday’s support zone. A break below could lead us to a retest of yesterday’s support. Potential lower targets are the 0.00000722 and 0.00000720 levels.
We need a positive consolidation and a return to the zone around the 0.00000732 level for a bullish option. Then, we need a breakout above for a more concrete price recovery. We would also receive support in the EMA50 moving average, which would positively affect the Shiba Inu. Potential higher targets are the 0.00000734 and 0.00000736 levels.
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