Dogecoin stabilizes above 0.07500 and Shiba above 0.00000800
Dogecoin price is in a bullish trend after falling to the 0.07063 level on Tuesday evening.
The Shiba Inu price managed to stabilize above the 0.00000800 level.
Dogecoin chart analysis
Dogecoin price is in a bullish trend after falling to the 0.07063 level on Tuesday evening. Today, we see a steady move above the 0.07500 level and expect to see further recovery and growth to higher levels. In the zone around the 0.07700 level, we encounter the EMA50 moving average, which could increase the pressure on the price of Dogecoin. A break above would be of great importance for further continuation to the bullish side.
If we succeed in that intention, the potential higher targets are 0.07800 and 0.07900. We need a negative consolidation and pullback below the 0.07500 level for a bearish option. After that, we should pay attention to the 0.07400 support zone because if we slip below it, we could easily trigger a bigger pullback in the Dogecoin price. Potential lower targets are 0.07300 and 0.07200 levels.
Shiba Inu chart analysis
The Shiba Inu price managed to stabilize above the 0.00000800 level. Today, we see a slight bullish consolidation and a move to the 0.00000820 level. We expect to see a break above that level and start a further recovery. Potential higher targets are the 0.00000830 and 0.00000840 levels. We will have an additional resistance in the EMA50 moving average in the zone around the 0.00000840 level.
We need a negative consolidation and price pullback to the 0.00000800 support zone for a bearish option. A break below would lead to the formation of a new daily low, and thus, we would receive confirmation of bearish pressure on the Shiba Inu price. Potential lower targets are the 0.00000780 and 0.00000770 levels.
The post Dogecoin stabilizes above 0.07500 and Shiba above 0.00000800 appeared first on FinanceBrokerage.
