Dogecoin and Shiba Inu: Dogecoin pulls back below 0.05900

• Today’s price movement of Dogecoin takes place in the 0.05860-0.05940 range.
• Yesterday, we saw the Shiba Inu price drop from 0.00000713 to 0.00000683.

Dogecoin chart analysis

Today’s price movement of Dogecoin takes place in the 0.05860-0.05940 range. We are now in the middle of this range in a bearish consolidation with the 0.05940 level. We saw an attempt in the previous hours to break that level, but it ended without success. Additional pressure at that level makes the EMA 50 moving average, and we need a break above to continue to the bullish side.

Then, we would have to hold above the 0.05950 level and form a new bottom there, from which we would start a further recovery on the bullish side. Potential higher targets are 0.05960, 0.05980 and 0.06000 levels. We need a negative consolidation and pullback to support a bearish option at the 0.05860 level. A break below would lead to the formation of a new daily low, and potential lower targets are the 0.05840 and 0.05820 levels.

Shiba Inu Chart Analysis

Yesterday, we saw the Shiba Inu price drop from 0.00000713 to 0.00000683. We failed to stop at the 0.00000700 level and formed a new weekly low. After that, the price continues in lateral consolidation in the 0.00000685-0.00000695 range. We remain under pressure from the EMA50 moving average because we fell below that line.

That could increase bearish pressure on the price and send it even lower. Potential lower targets are the 0.00000680 and 0.00000675 levels. We need a positive consolidation and a jump to the 0.00000695 level for a bullish option. There, we would have the opportunity to test the EMA50 and the 0.00000700 levels there. By crossing above, we would have the opportunity to continue the recovery. Potential higher targets are the 0.00000705 and 0.00000710 levels.

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