Dogecoin and Shiba Inu: Doge is at 0.07000 support level

Dogecoin chart analysis

Dogecoin price slipped to 0.06853 levels this morning. A new May low was formed. We see a slight recovery up to the 0.07050 level, where we encounter further resistance and pull back to potential support at the 0.07000 level. If we manage to stay above that level, we will have the opportunity to start a new bullish recovery.

Potential higher targets are 0.07100 and 0.07150 levels. We need a negative consolidation and pullback below the 0.06950 level for a bearish option. After that, we would test the previous low again, and we would see a breakout below and the formation of a new low.

Shiba Inu chart analysis

This morning, Shiba Inu’s price fell to a new May low at 0.00000829. With a bullish impulse, the price is recovering to the 0.00000850 level. We are now consolidating around the 0.00000845 level and could soon start a new bullish rally. Potential higher targets are 0.00000860 and 0.00000870 levels.

We need a negative consolidation and price pullback below the 0.00000840 level for a bearish option. After that, we would be on our way to testing the previous low and maybe forming a new lower low.

The post Dogecoin and Shiba Inu: Doge is at 0.07000 support level appeared first on FinanceBrokerage.