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Dogecoin and Shiba Inu: Dogecoin is firmly above EMA 200
- On Tuesday, Dogecoin price took one step back to support at 0.10100
- Yesterday, the Shiba Inu price rose to 0.00001394, a new weekly high
Dogecoin chart analysis
On Tuesday, Dogecoin price took one step back to support at 0.10100. This tested yesterday’s open price, and we successfully stayed above it. After that, we saw the initiation of a bullish consolidation and a return above the EMA 200 moving average. With new support, the price rose today to the 0.10500 level. We have solid bullish consolidation and expect to see further continuation of the trend to the bullish side.
Potential higher targets are the 0.10600 and 0.10700 levels. For a bearish option, Dogecoin would have to return to the 200 EMA and 0.10250 levels. There, he would once again exert pressure on a new zone, which could give way this time. By going below, we would reach a new daily low and thereby confirm the strengthening of the bearish momentum. Potential lower targets are the 0.10200 and 0.10100 levels.
Shiba Inu chart analysis
Yesterday, the Shiba Inu price rose to 0.00001394, a new weekly high. After that, we saw an impulse and a drop to the 0.00001340 level. The price quickly stabilized and returned above the 0.00001350 level. With this, we returned above the EMA 200 moving average, which is holding us above for now. Today’s price movement is in the 0.00001350-0.00001380 range. We have resistance at the 0.00001380 level and are bouncing off it.
It is possible that we will first see a new Shiba Inu price retest at the EMA 200 moving average before proceeding to the bullish side. Potential higher targets are 0.00001390 and 0.00001400 levels. If there is a drop below the EMA 200, we can expect a bigger bearish momentum and a price drop to a new low. Potential lower targets are the 0.00001340 and 0.00001330 levels.
The post Dogecoin and Shiba Inu: Dogecoin is firmly above EMA 200 appeared first on FinanceBrokerage.
