Dogecoin and Shiba Inu: Dogecoin resting below 0.20500
The price of Dogecoin fell to a new weekly low on Wednesday at the 0.18000 level.
Shiba Inu price pulled back to the 0.00002640 support level yesterday.
Dogecoin chart analysis
The price of Dogecoin fell to a new weekly low on Wednesday at the 0.18000 level. We managed to hold above that level and start a recovery above the 0.19000 level. There, we get support from the EMA200 moving average and continue higher to the 0.20300 level. We are encountering resistance in that zone and the price has pulled back to a new support level at 0.19500. We are now trying to trigger another bullish consolidation from there and get back above the 0.20000 level.
Moving above, we will test last night’s high, and potential higher targets are 0.20500 and 0.21000 levels. We need a negative consolidation and pullback to the 0.19000 level and the EMA200 moving average for a bearish option. By falling below this support, we move to the bearish side and can expect a further pullback of Dogecoin. Potential lower targets are the 0.18500 and 0.18000 levels.
Shiba Inu chart analysis
Shiba Inu price pulled back to the 0.00002640 support level yesterday. We stayed below for a short time as a recovery to the 0.00002800 level followed. For now, we have an opening in that zone, and we manage to move above it. We need a stronger bullish impulse to move above the weekly open price and the EMA200 moving average. If we succeed in that, we will have an open path on the bullish side.
Potential higher targets are 0.00002850 and 0.00002900 levels. We need a negative consolidation and pullback to the 0.00002750 support level for a bearish option. By falling below, we go to a new daily low and thereby hint at a possible further retreat of the Shiba Inu price. Potential lower targets are 0.00002700 and 0.00002650 levels.
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