Dogecoin and Shiba Inu: Dogecoin remains below 0.05850
- Yesterday’s attempt for the price of Dogecoin to start a recovery was stopped at the 0.05900 level.
- The Shiba Inu price fell to a new lower low yesterday at the 0.00000671 level.
Dogecoin chart analysis
Yesterday’s attempt for the price of Dogecoin to start a recovery was stopped at the 0.05900 level. From that resistance, we saw the initiation of bearish consolidation and a price drop to the 0.05760 level. We received support at that level, and with bullish consolidation, we climbed to the 0.05850 level. That was followed by a slight pullback to 0.05830, and the pressure could be transferred to the 0.05800 support level.
A fall in the price of Dogecoin below could bring a new low and thus confirm the bearish primacy. Potential lower targets are 0.05750 and 0.05700 levels. We need a positive consolidation and a break above the 0.05850 level for a bullish option. With that, we would form today’s new high, and we could expect to see a continuation of the recovery on the bullish side. Potential higher targets are 0.05900 and 0.05950 levels.
Shiba Inu chart analysis
The Shiba Inu price fell to a new lower low yesterday at the 0.00000671 level. We get support at that level and start recovery to resistance at the 0.00000685 level. We stop at that level and pull back to the 0.00000678 level. We could get new support here for the next bullish impulse and start a new bullish consolidation. Potential higher targets are the 0.00000690 and 0.00000695 levels.
We need a negative consolidation and a new price pullback to the 0.00000670 support level for a bearish option. A break below leads to the formation of a new low and thus confirms the bearish option. Potential lower targets are the 0.00000665 and 0.00000660 levels.
