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Dogecoin and Shiba Inu: Dogecoin this morning below 0.05750

Dogecoin and Shiba Inu: Dogecoin this morning below 0.05750

This morning, we saw the formation of a new weekly low at the 0.05738 level.
The Shiba Inu price continues its bearish retreat, forming a new low this morning at the 0.00000662 level.

Dogecoin chart analysis

This morning, we saw the formation of a new weekly low at the 0.05738 level. We stayed down there briefly, and the price retreated to the 0.05820 level. We are currently consolidating around that level and need a break above to continue to the next resistance at the 0.05850 level.

In that zone, we could expect more resistance that could send the price of Dogecoin down again. Potential lower targets are 0.05750 and 0.05700 levels. We need a price jump above the 0.05850 level for a bullish option.

Then, we need to stay above and form a new bottom at that level. With the next impulse, we would have the opportunity to continue on the bullish side. Potential higher targets are 0.05900 and 0.05950 levels. We will have additional pressure and resistance in the EMA50 moving average in the zone around the 0.05900 level.

Shiba Inu chart analysis

The Shiba Inu price continues its bearish retreat, forming a new low this morning at the 0.00000662 level. Thus, the price fell to a three-month low. After that, we see a bullish consolidation and recovery to the 0.00000675 level. For now, we fail to move above. Instead, we move in the 0.00000670-0.00000675 range.

We need a break above to trigger a continuation of the bullish consolidation. Potential higher targets are the 0.00000680 and 0.00000685 levels. We need a negative consolidation pullback of the price below the 0.00000670 level for a bearish option. Then we would have the opportunity to visit this morning’s low again. Potential lower targets are 0.00000660 and 0.00000655 levels.

The post Dogecoin and Shiba Inu: Dogecoin this morning below 0.05750 appeared first on FinanceBrokerage.

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