Dogecoin and Shiba Inu: Dogecoin retreats to 0.07250 level

The price of Dogecoin is in a bearish trend this week, with the formation of a new low at the 0.07250 level. The Shiba Inu price continues the bearish trend, forming a lower high at 0.00000830.

Dogecoin chart analysis

The price of Dogecoin is in a bearish trend this week, with the formation of a new low at the 0.07250 level. Yesterday, the price tried to hold above 0.07400 but failed in that intention and fell below. We can now expect to see a continuation to the bearish side and a pullback to the next support. Potential lower targets are 0.07100 and 0.07000 levels.

We need a positive consolidation and a return to the 0.07400-0.07500 zone for a bullish option. Then, we need a break above to get rid of the bearish pressure. After that, we can expect the price to continue its recovery. Potential higher targets are 0.07600 and 0.07700 levels.

Shiba Inu Chart Analysis

The Shiba Inu price continues the bearish trend, forming a lower high at 0.00000830. From that level, we start a new pullback and fall to the 0.00000810 level. The price also made a break below the EMA50 moving average, which could increase the bearish pressure and send us to lower support levels. Potential lower targets are the 0.00000800 and 0.00000790 levels.

We need a positive consolidation and a return in the resistance zone at 0.00000830 for a bullish option. Then, we need a breakthrough above and an attempt to maintain ourselves there. With a new impulse, we would start further recovery. Potential higher targets are 0.00000840 and 0.00000850 levels.

The post Dogecoin and Shiba Inu: Dogecoin retreats to 0.07250 level appeared first on FinanceBrokerage.