Dogecoin and Shiba Inu: Dogecoin is moving below 0.07000
Since Friday, the price of Dogecoin has been in a sideways consolidation in the 0.06800-0.07100 range. The Shiba Inu price is in a slight pullback from the 0.00000810 level we reached over the weekend.Dogecoin chart analysis
Since Friday, the price of Dogecoin has been in a sideways consolidation in the 0.06800-0.07100 range. Today’s movement is bearish from the 0.07000 level to the 0.06800 level.
The EMA50 moving average has approached that level, and it will be interesting to watch how the price of Dogecoin Asada will behave in that zone. If we manage to stay above the EMA50, we can expect a new bullish impulse soon and a continuation to the bullish side.
Potential watch targets are 0.07200 and 0.07300 levels. For a bearish option, we need a negative consolidation and a drop below the EMA50 moving average and the 0.06800 level. This would mean that the price of Dogecoin is losing strength, and the bearish pressure is intensifying. Potential lower targets are 0.06700 and 0.06600 levels.
Shiba Inu chart analysis
The Shiba Inu price is in a slight pullback from the 0.00000810 level we reached over the weekend. From that level, the price slowly slides below the 0.00000800 level, forming this morning’s low at the 0.00000780 level.
On the downside, the EMA50 moving average is approaching, and we should be able to test it soon. A fall below the EMA50 moving average would contribute to increasing bearish pressure, and the price would continue its retreat.
Potential lower targets are the 0.00000770 and 0.00000760 levels. For a bullish option, we need a positive consolidation and a jump above the 0.00000810 level. Then we would have to hold above there and form a new Shiba Inu price bottom there. With a new bullish impulse, we would start a further recovery on the bullish side. Potential higher targets are the 0.00000820 and 0.00000830 levels.
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