Dogecoin and Shiba Inu: Price Dip and Market Outlook
- The price of Dogecoin this morning fell to a new low for the week at the 0.08980 level.
- The Shiba Inu price retested this week’s low at the 0.00000914 level this morning.
Dogecoin chart analysis
The price of Dogecoin this morning fell to a new low for the week at the 0.08980 level. We managed to stop there and recover slightly to the 0.09220 level. We need a continuation of this bullish attempt in order to recover more concretely. Potential higher targets are 0.09300 and 0.09400 levels. Additional price resistance could be found in the EMA50 moving average in the zone around the 0.09500 level.
We need a negative consolidation and continued pullback below this morning’s low for a bearish option. This would form a new daily low and get a confirmation for bearish continuation. Price would be under pressure to continue the pullback, looking for support at new lower levels. Potential lower targets are 0.08800 and 0.08600 levels.
Shiba Inu Chart Analysis
The Shiba Inu price retested this week’s low at the 0.00000914 level this morning. We regain support at that level and start a recovery to the 0.00000943 level. We need a continuation and a break above the 0.00000960 level, in order to jump over the EMA50 moving average and start further growth to the bullish side. Potential higher targets are 0.00000970 and 0.00000980 levels.
A new negative consolidation would cause the price to pull back to test the previous support. A renewed pressure would allow us to see a breakout below and the formation of a new low. The price would return to the support zone from the previous week, and the potential lower targets are the 0.00000900 and 0.00000880 levels.
