Dogecoin and the Shiba Inu: Dogecoin is failing to stabilize
- The price of Dogecoin fell to a new low this morning at the 0.12200 level.
- Yesterday’s Shiba Inu bullish consolidation was stopped at the 0.00001760 level.
Dogecoin chart analysis
The price of Dogecoin fell to a new low this morning at the 0.12200 level. Support at 0.12800 did not hold, and a break below occurred. The EMA 200 moving average also failed to hold us above. After that, we saw the initiation of a bearish consolidation below and the formation of a new low. For now, the price manages to hold and recover slightly to 0.12425. We need to see a continuation of this consolidation for further recovery.
Potential higher targets are the 0.12600 and 0.12800 levels. For a bearish option, we need a negative consolidation and a new test of the previous low. This will increase the bearish momentum, and Dogecoin could slide to a new lower low. Potential lower targets are the 0.12000 and 0.11800 levels.
Shiba Inu chart analysis
Yesterday’s Shiba Inu bullish consolidation was stopped at the 0.00001760 level. After that, the price started a pullback, which continued this morning to 0.00001598. We then saw a pullback stop there and a slight price recovery to the 0.00001625 level. We expect to see a continuation of the bullish consolidation and a move to the previous higher levels.
Potential higher targets are 0.00001640 and 0.00001660 levels. The first major resistance will be found in the EMA 50 moving average at the 0.00001700 level. A bearish price option requires the Shiba Inu to return to this morning’s support zone. This puts pressure on this morning’s low again. A new bearish impulse would push Shiba Inu to a new low and thus confirm the continuation to the bearish side. Potential lower targets are 0.00001580 and 0.00001560 levels.
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