Dogecoin and Shiba Inu: Dogecoin is approaching 0.11000
This morning, we saw a solid bearish impulse of the Dogecoin price to a new July low at the 0.11180 level. The Shiba Inu price failed to hold above weekend support.Dogecoin chart analysis
This morning, we saw a solid bearish impulse of the Dogecoin price to a new July low at the 0.11180 level. By descending to this level, a four-month low was formed. After that, the price recovered slightly to 0.11600, where it encountered new resistance. This led to the initiation of a new bearish consolidation and a pullback below the 0.11400 level. We expect to see a further decline in the price of Dogecoin below this morning’s low and the formation of a new one.
Potential lower targets are the 0.11000 and 0.10800 levels. If the price manages to stabilize above the 0.11400 level, it could trigger a bullish consolidation. By moving above 0.11600, we move above the previous resistance. After that, we can expect a continuation to the bullish side. Potential higher targets are the 0.11800 and 0.12000 levels.
Shiba Inu chart analysis
The Shiba Inu price failed to hold above weekend support. Yesterday, we saw the initiation of a bearish consolidation and a drop below the 0.00001660 level. A new low was formed at the 0.00001620 level. After that, the price recovered slightly, but only up to the 0.00001645 level. At that level this morning, we encountered resistance and started a further pullback. With two bearish impulses, the price fell to 0.00001542, forming a new weekly low.
It’s important to note that we were at the 0.00001620 level last on the first of March. Shiba Inu briefly recovered from there and rose to 0.00001600. However, it lost strength and once again turned to the bearish side. This historical context can provide valuable insights for potential lower targets at the 0.00001540 and 0.00001520 levels.
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