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Dogecoin and Shiba Inu: Dogecoin slides below the 0.06000

Dogecoin and Shiba Inu: Dogecoin slides below the 0.06000

The price of Dogecoin has been in a bearish trend since Saturday, with 0.06350 levels.
The Shiba Inu price continues with the bearish trend, forming a new low last night at the 0.00000696 level.

Dogecoin chart analysis

The price of Dogecoin has been in a bearish trend since Saturday, with 0.06350 levels. Last night, we saw the formation of a new low at the 0.05919 level. Dogecoin manages to consolidate at that level and initiate a bullish consolidation up to the 0.06200 level. There, we encounter a new resistance and pull back to the 0.06080 level again. The price continues the previous bearish trend with an eye on the 0.05900 level as the next lower low. Potential lower targets are 0.05800 and 0.05700 levels.

We need a positive consolidation and a break above the 0.06200 resistance level for a bullish option. After that, we need to stay above that and start the recovery with a new impulse. We would also get additional support in the EMA50 moving average, which would positively affect the price movement. Potential higher targets are 0.06300 and 0.06400 levels.

Shiba Inu chart analysis

The Shiba Inu price continues with the bearish trend, forming a new low last night at the 0.00000696 level. After that, we see that Shiba Inu manages to get support at that level and start a recovery to the 0.00000730 level. For now, we have resistance at that level and are pulling back to the 0.00000720 level.

The price is consolidating slightly above this level, which could generate a new bullish impulse and trigger a continuation of the recovery. Potential higher targets are the 0.00000740 and 0.00000750 levels. We have additional pressure in the EMA50 moving average and around the 0.00000740 level zone.

We need a negative consolidation and a break below the 0.000000700 level for a bearish option. After that, we will see a drop to a new low and confirmation of the bearish option. Potential lower targets are 0.00000680 and 0.00000660 levels.

 

The post Dogecoin and Shiba Inu: Dogecoin slides below the 0.06000 appeared first on FinanceBrokerage.

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