Connect with us

Hi, what are you looking for?

Smart Success Strategy – Investing and Stock NewsSmart Success Strategy – Investing and Stock News

Economy

Dogecoin backs down under pressure, and Shiba Inu too

Dogecoin backs down under pressure, and Shiba Inu too

Dogecoin’s price failed to hold above the 0.12800 support level yesterday. 
Last night, we saw the Shiba Inu price drop to 0.00001600. 

Dogecoin chart analysis

Dogecoin’s price failed to hold above the 0.12800 support level yesterday. A bearish consolidation followed until the formation of the weekly low at the 0.12320 level. This morning’s movement showed that the price has strength, leading to a recovery above 0.12600. We need stronger momentum to continue on the bullish side. Potential higher targets are 0.12800 and 0.13000 levels.

We will have big resistance at the 0.13000 level, the EMA 200 moving average, and the weekly open price. For a bearish option, we need a negative consolidation and a return to last night’s support zone. With a new descent into that zone, I will once again exert pressure, which this time could push the price to a new weekly low. Potential lower targets are the 0.12200 and 0.12000 levels.

 

Shiba Inu chart analysis

Last night, we saw the Shiba Inu price drop to 0.00001600. On Monday, we attempted to hold above 0.00001700, but the price failed to withstand the pressure, which triggered a pullback. After forming the weekly low, the price stabilized and recovered to the 0.00001650 level this morning. For now, we do not manage to move above, but we can expect new pressure on the resistance zone.

Potential higher targets are 0.00001660 and 0.00001680 levels. Additional resistance is the EMA 50 moving average in the 0.00001660 zone. A bearish Shiba Inu option needs to pull back below the 0.00001620 level. With that step, we will find ourselves in the zone of yesterday’s low. Potential lower targets are 0.00001600 and 0.00001580 levels.

 

The post Dogecoin backs down under pressure, and Shiba Inu too appeared first on FinanceBrokerage.

Enter Your Information Below To Receive Latest News, And Articles.



    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    You May Also Like

    Editor's Pick

    The energy revolution is here to stay, and electric vehicles (EVs) have become part of the mainstream narrative. Despite geopolitical tensions and uncertainty, the...

    Editor's Pick

    Overview Mexico’s Sinaloa state hosts a number of prolific silver and gold mines, including McEwen Mining’s (TSX:MUX) El Gallo Complex, Americas Gold and Silver’s...

    Editor's Pick

    Uranium is an important energy sector commodity, and its rising value has attracted investor interest. 2023 has seen uranium prices solidly above the important...

    Investing

    A new survey shows that the presidential race between former President Donald Trump and President Biden is thin, but Biden faces a deficit in...

    Disclaimer: smartsuccessstrategy.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2024 smartsuccessstrategy.com