Dogecoin and the Shiba Inu: Dogecoin is recovering

Dogecoin chart analysis

Dogecoin price dropped to a new weekly low yesterday at the 0.12800 level. At that level, the price finds support in the EMA 200 moving average. After that, we saw the initiation of a bullish consolidation and recovery to the 0.13230 level. It is possible that we will see a rise to 0.13400, where we will get support from the EMA 50 moving average. With its support, the price will have additional strength to continue on the bullish side.

Potential higher targets are 0.13600 and 0.13800 levels. For a bearish option, we need a new pullback down to 0.12800 and the EMA 200 moving average. Also, we expect a new fluctuation in the price because we got that support at the previous testing of that level. With the momentum below, we will create a new weekly low and confirm the continuation to the bearish side. Potential lower targets are 0.12600 and 0.12400 levels.

Shiba Inu chart analysis

Yesterday, we saw a new weekly low for the Shiba Inu price at the 0.00001670 level. After that, the price managed to hold there and start a recovery to the 0.00001720 level. Now, we encounter resistance in this zone and hope for a consolidation that will push us to the bullish side. Next, we need momentum to 0.00001740 and support at the EMA 50 moving average. This will significantly increase the chances of the price to continue its growth on the bullish side.

Potential higher targets are the 0.00001760 and 0.00001780 levels. The EMA 200 moving average in the 0.00001760 zone may be additional resistance for Shiba Inu. For a bearish option, we need a negative consolidation and a decline from the 0.00001680 level. We are close enough to test yesterday’s low. Potential lower targets are the 0.00001660 and 0.00001640 levels.

The post Dogecoin and the Shiba Inu: Dogecoin is recovering appeared first on FinanceBrokerage.