Dogecoin and Shiba Inu: Dogecoin under pressure at 0.08200
- Dogecoin price continues bearish movement after jumping to 0.08200 level yesterday.
- During the weekend, Shiba Inu prices were in a slight bearish consolidation.
Dogecoin chart analysis
Dogecoin price continues bearish movement after jumping to 0.08200 level yesterday. There, we encounter a new resistance and form a lower high. The price starts with a new bearish consolidation and falls below the 0.08000 level. We are currently at 0.07900 and could see a continuation of the decline to lower levels. The additional pressure creates a muted pressure to move back above the EMA50 moving average. Potential lower targets are 0.07800 and 0.07600 levels.
We need to go back above 0.08200 for a bullish option and retest the EMA50 moving average. A breakthrough above would gain strength to start a further recovery on the bullish side. Potential higher targets are 0.08400 and 0.08600 levels.
Shiba Inu Chart Analysis
During the weekend, Shiba Inu prices were in a slight bearish consolidation. Early on Monday, we saw a decline and the formation of a new low at the 0.00000850 level. We managed to stop there and initiate a bullish consolidation all the way to the 0.00000960 level. There, we encounter resistance and slightly pull back to the 0.00000930 level. Price is currently under pressure to continue further retreat, looking for support at a lower level.
Potential lower targets are the 0.00000920 and 0.00000900 levels. We need a positive consolidation and a return above the 0.00000960 previous resistance level for a bullish option. Then, we need to try to hold up there and test the EMA50 moving average in the zone around the 0.00000980 level. A break above means that the price is releasing the bearish pressure and that we continue on the bullish side. Potential higher targets are 0.00001000 and 0.00001020 levels.
