Dogecoin and Shiba Inu: Dogecoin in pullback below 0.13000
The price of Dogecoin has been retreating since last Thursday from the 0.19289 level.
On Saturday, Shiba Inu’s price fell to a new weekly low at 0.00002350.
Dogecoin chart analysis
The price of Dogecoin has been retreating since last Thursday from the 0.19289 level. With the price falling below 0.17000, we dropped below the EMA200 moving average. The price continued to pull back to the 0.13500 level during the weekend. We got support there and recovered to the 0.15500 zone by the end of the weekend. On Monday morning, Dogecoin continued the previous bearish consolidation by falling below the EMA50 moving average until the support level of 0.14000.
This morning, we saw a drop below yesterday’s support, thus forming a new weekly low at the 0.12600 level. We are currently holding above and moving up to the 0.13200 level. We need a break above 0.13500 to break out of the bearish embrace. If we succeed, we will have the opportunity to start a recovery in the price of Dogecoin. Potential higher targets are the 0.14000 and 0.14500 levels.
Shiba Inu chart analysis
On Saturday, Shiba Inu’s price fell to a new weekly low at 0.00002350. After the support, we initiate a positive consolidation and rise to the 0.00003000 level. In this zone, we found a moving average on the EMA200 that stopped us and did not allow us to move above. The Shiba Inu is forced to initiate another negative consolidation and go on another retreat.
So yesterday, we saw a constant bearish consolidation to the 0.00002700 level. At today’s opening, the price just continued the previous trend, falling to the 0.00002400 level. We are getting closer to testing the previous weekend’s low at the 0.00002350 level. Potential lower targets are the 0.00002300 and 0.00002250 levels.
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