Dogecoin Price Analysis: Breaking New Highs at 0.20637

• The Dogecoin price rose to 0.20637 this morning, forming a new two-year high there. 
• Shiba Inu’s price rose to 0.00004575 levels this morning. 

Dogecoin chart analysis

The Dogecoin price rose to 0.20637 this morning, forming a new two-year high there. On Sunday, the price broke the resistance at the 0.15000 level, and below, we saw a jump to this morning’s high. This was followed by a price pullback to support at the 0.17000 level.

For now, we are holding above it and moving up to the 0.18000 level. We need another positive consolidation and a move above 0.19000 to continue the bullish option.

After that, we can expect to visit the 0.20000 level again. Above, we could test the previous high, and the potential higher targets are the 0.21000 and 0.21500 levels. If prices fail to move to the bullish side, a pullback and testing of support at the 0.17000 level will follow.

Additional support there could be the EMA50 moving average. The breakout below confirms the bearish option and pushes the price of Dogecoin to lower levels. Potential lower targets are 0.16000 and 0.15000 levels.

Shiba Inu chart analysis

Shiba Inu’s price rose to 0.00004575 levels this morning. By jumping to that level, we skipped the high from November 2021. We stopped there, and the price slipped to 0.00002000 with a strong, bearish impulse. In the next hour, we have already recovered to 0.00003500 and are holding above.

This consolidation managed to move the price above 0.00004000, and we are currently moving around that level.

We need a break above to trigger a new bullish option and continue to the bullish side. Potential higher targets are the 0.00004500 and 0.00005000 levels.

We need a negative consolidation and pullback below the 0.00003500 level for a bearish option. With a fall below, we will form a new low and thus get confirmation that the price is in trouble and that a further fall is expected. Potential lower targets are the 0.00003000 and 0.00002500 levels.