Dogecoin and Shiba Inu: Shiba Inu in a lateral consolidation
- Dogecoin price re-visited the support zone around the 0.08000 level yesterday.
- The price of the Shiba Inu remains today in a lateral consolidation with slight traces of bearish pressure.
Dogecoin chart analysis
Dogecoin price re-visited the support zone around the 0.08000 level yesterday. A low was formed at 0.07986, where we find support as in previous dips. The price quickly recovered to the 0.081800 level. In that zone, we encounter the EMA200 moving average, which prevents us from continuing the recovery. This leads to a bearish consolidation and a price drop to the 0.08020 level. Increased pressure in that zone could push the price even lower and form a new lower low.
Potential lower targets are 0.07980 and 0.07960 levels. We need a positive consolidation and a move to the 0.08160 level for a bullish option. There, we encounter the EMA200 moving average, further complicating the transition on the bullish side. If we manage to move above, we will be relieved of the bearish pressure and could start the recovery unhindered. Potential higher targets are 0.08200 and 0.08220 levels.
Shiba Inu chart analysis
The price of the Shiba Inu remains today in a lateral consolidation with slight traces of bearish pressure. Yesterday, we saw a bearish impulse to the 0.00000940 level, but the price quickly returned to the previous movement zone. On the upside, we remain under pressure from the EMA200 moving average in the zone around the 0.00000970 level. Today, we are in a bearish consolidation, and we are once again putting pressure on the support zone at the 0.00000950 level. Potential lower targets are 0.00000940 and 0.00000930 levels.
We need a positive consolidation into a new retracement to the resistance zone around 0.00000970 for a bullish option. With a break above, we would move above the EMA200 moving average. That would increase optimism in further recovery to the bullish side. Potential higher targets are 0.00000980 and 0.00000990 levels.
