Dogecoin and Shiba Inu: Dogecoin climbs above 0.07500
- Early this morning, the price of Dogecoin climbed to the 0.07653 level, forming a three-month high there.
- The Shiba Inu price formed a new high yesterday at the 0.00000852 level.
Dogecoin chart analysis
Early this morning, the price of Dogecoin climbed to the 0.07653 level, forming a three-month high there. This was followed by a pullback to the 0.07350 level, where we managed to stop and receive support at that level.
Then, we initiated a bullish consolidation that ended at the 0.07590 level. There, we meet a new resistance and pull back below the 0.07500 level.
If the current price pressure continues, we can expect to see further pullbacks and testing of previous support levels. Potential lower targets are 0.07400 and 0.07300 levels. For a bullish option, we need a positive consolidation and a return to the zone around the 0.07600 level.
Then, we would have to hold on there in order to start further recovery with the next impulse. Potential higher targets are 0.07700 and 0.07800 levels.
Shiba Inu chart analysis
The Shiba Inu price formed a new high yesterday at the 0.00000852 level. After almost three months, we returned to that level. At that level, we encounter resistance, and the price goes down to the 0.00000820 support level.
A new bullish consolidation followed, which took us up to the 0.00000840 level, where we encountered new resistance and formed a lower high. This caused the price to start a new pullback to the 0.00000830 level, and we are now on our way to the previous support level at 0.00000820.
A break below would lead to the formation of a new low, and thus, we would have a confirmation of bearish dominance. Potential lower targets are the 0.00000810 and 0.00000800 levels. Additional support in the zone around the 0.00000800 level is the EMA50 moving average.