Dogecoin and the Shiba Inu: Shiba Inu manages to stabilize
- Dogecoin price is in bearish consolidation after yesterday’s recovery to 0.06250 level.
- The Shiba Inu price managed to hold above the 0.00000710 level today.
Dogecoin chart analysis
Dogecoin price is in bearish consolidation after yesterday’s recovery to 0.06250 level. This morning, we saw the formation of a new low at the 0.06050 level and managed to get support at that level. The decline has been stopped, and we could expect to see a positive consolidation and continuation to the bullish side. Potential higher targets are 0.06150 and 0.06200 levels. We will have additional resistance in the zone around 0.06200 in the EMA50 moving average.
We need a negative consolidation and a drop below this morning’s support for a bearish option at the 0.06050 level. After that, Dogecoin would drop down to test the 0.06000 level. A break below would set off a bearish alarm for the potential formation of a new low. Lower targets are 0.05900 and 0.05800 levels.
Shiba Inu chart analysis
The Shiba Inu price managed to hold above the 0.00000710 level today. Now we see a new bullish impulse and price jump to the 0.00000720 level. We need a break above to reach the 0.00000740 level and test the EMA50 moving average there. With a new impulse, we would move above, and with additional support, we would start to continue the recovery. Potential higher targets are the 0.00000750 and 0.00000760 levels.
We need a negative consolidation and price pullback to the 0.00000710 support level for a bearish option. A break below would mean that we do not have the strength to hold above, and we will see a continuation of the decline to the bearish side. Potential lower targets are the 0.00000700 and 0.000000690 levels.
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