Dogecoin and Shiba Inu: Doge is consolidating around 0.15500
- Dogecoin price is moving in a sideways consolidation in the 0.14500-0.16500 range this week.
- A new weekly low price of Shiba Inu was formed yesterday at the 0.00002080 level.
Dogecoin chart analysis
Dogecoin price is moving in a sideways consolidation in the 0.14500-0.16500 range this week. We are now in the middle of this channel and moving together with the EMA50 moving average. Cena is currently undecided on which direction to go. We need an impulse above 0.16500 to initiate a bullish consolidation and return above the weekly open price. That would significantly improve the picture for further recovery.
Potential higher targets are 0.17000 and 0.17500 levels. Additional resistance to our bullish trend is EMA200 in the zone around 0.17000 levels. If we were to go down to the 0.14500 level, the price would transfer pressure to the support level. With a new impulse, we go to a new weekly low and thus confirm the bearish scenario. Potential lower targets are 0.14000 and 0.13500 levels.
Shiba Inu chart analysis
A new weekly low price of Shiba Inu was formed yesterday at the 0.00002080 level. We started a new recovery up to the 0.00002300 level from that support level. We encounter resistance here and are holding below for now, pulling back slightly to the 0.00002240 level and the EMA50 moving average. If we fail to hold above this support, a drop to the daily low will follow.
Potential lower targets are the 0.00002200 and 0.00002150 levels. We need a positive consolidation and a break above the 0.00002300 resistance level for a bullish option. With this, we climb to a new daily high and strengthen the bullish impulse for continued recovery. Potential higher targets are 0.00002350 and 0.00002400 levels. Additional resistance at the 0.00002400 level is the EMA200 moving average.
