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Dogecoin and Shiba Inu: Dogecoin is holding above 0.06300

Dogecoin and Shiba Inu: Dogecoin is holding above 0.06300

The price of Dogecoin yesterday made a breakthrough to the 0.06550 level.
Shiba Inu’s price rose to 0.00000855 levels yesterday.

Dogecoin chart analysis

The price of Dogecoin yesterday made a breakthrough to the 0.06550 level. We formed a new high for the week, but a quick pullback and withdrawal to the 0.06300 level followed. After that, we see a consolidation that manages to hold above the support zone. We need new momentum above 0.06500 to continue to the bullish side. Potential higher targets are 0.06600 and 0.06700 levels.

We need a negative consolidation and pullback below the 0.06200 level for a bearish option. A fall below this level is a sign that the price is approaching a critical support zone, and a break below is confirmation of a bearish option. Potential lower targets are 0.06100 and 0.06000 levels.

Shiba Inu chart analysis

Shiba Inu’s price rose to 0.00000855 levels yesterday. There, we encounter resistance and see a pullback to the 0.00000830 level. The pressure is now on this level, and a breakout below and pullback to previous support at the 0.00000810 level could occur. After that, we could expect to see a further price drop. Potential lower targets are the 0.00000800 and 0.000000780 levels.

We need a positive consolidation and a move to the 0.00000860 resistance level for a bullish option. Additional resistance in that zone is the EMA50 moving average. A price breakout above would increase bullish optimism for continued price recovery. Potential higher targets are 0.00000880 and 0.00000900 levels.

The post Dogecoin and Shiba Inu: Dogecoin is holding above 0.06300 appeared first on FinanceBrokerage.

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