Dogecoin and Shiba Inu: Dogecoin makes a move to 0.08400
- Dogecoin’s price recovered yesterday and climbed above the 0.08200 level.
- Shiba Inu’s price successfully crossed the EMA50 moving average yesterday and continued its recovery.
Dogecoin chart analysis
Dogecoin’s price recovered yesterday and climbed above the 0.08200 level. Today’s movement is in the 0.08200-0.84000 range from the support of the EMA50 moving average. Based on that, we expect to see a continuation to the bullish side. The current price is 0.08420, and there is enough to consolidate above the EMA50 and form a bottom from which we would start further recovery. Potential higher targets are 0.08600 and 0.08800 levels.
We would have to go back below 0.08200 and the EMA50 moving average for a bearish option. There, the price would already be under bearish pressure to continue further retreat and visit yesterday’s lower levels. Potential lower targets are 0.08000 and 0.07800 levels.
Shiba Inu chart analysis
Shiba Inu’s price successfully crossed the EMA50 moving average yesterday and continued its recovery. Today, a new seven-day high was formed at the 0.00001030 level. With the current bullish consolidation, we expect to see a continuation to the bullish side and the formation of a new high. Potential higher targets are the 0.00001040 and 0.00001060 levels.
We need a negative consolidation and price pullback below the 0.00001000 level for a bearish option. The price would thus fall below the first support and be on the way to testing the EMA50 moving average in the zone around the 0.00000980 level. The impossibility of maintaining leads to a breakthrough below and forming a new low. This confirms the bearish option, and we will see further price pullback. Potential lower targets are the 0.00000960 and 0.00000940 levels.
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