Dogecoin and Shiba Inu: Dogecoin continues to consolidate
- Dogecoin remains in a mild bullish consolidation with support at the 0.06100 level.
- Shiba Inu’s price continues to struggle with the 0.00000740 resistance level.
Dogecoin chart analysis
Dogecoin remains in a mild bullish consolidation with support at the 0.06100 level. We encounter resistance in the zone around the 0.06200 level. In that zone, we have additional pressure in the EMA50 moving average. We need a break above both resistances in order to continue to the bullish side. Potential higher targets are 0.06300 and 0.06400 levels.
We need a negative consolidation and a price drop to the 0.06000 level for a bearish option. Thus, we would fall below the support line, which would only increase the bearish pressure and affect the further decline of the price of Dogecoin. Potential lower targets are 0.05900 and 0.05800 levels.
Shiba Inu chart analysis
Shiba Inu’s price continues to struggle with the 0.00000740 resistance level. This morning, we tried to reach that level and try to break above. The opposite happened, and the price started a new pullback to the 0.00000720 support level. Now, the pressure is in that zone, and a breakout below and a continuation to the bearish side could easily happen. Potential lower targets are the 0.00000710 and 0.00000700 levels.
We need a positive consolidation and a return to the resistance zone around the 0.00000740 level for a bullish option. Then we need a breakout above and try to hold up there. If we succeed in this, we will get support in the EMA50 moving average for further continuation to the bullish side. Potential higher targets are the 0.00000750 and 0.00000760 levels.