Dogecoin falls to 0.07060, and Shiba Inu is also sliding
Dogecoin price is in bearish consolidation at the beginning of this week.
The Shiba Inu price dropped to the 0.00000761 level last night, testing that November low.
Dogecoin chart analysis
Dogecoin price is in bearish consolidation at the beginning of this week. Last night, a weekly low was formed at the 0.07063 level. We managed to get support in that zone and start recovery. The current price of Dogecoin is 0.07450, and we could expect to see continued growth above the 0.07500 level. Potential higher targets are 0.07600 and 0.07700 levels. The EMA50 moving average awaits us in the zone around the 0.07800 level.
We need a negative consolidation and pullback below the 0.07400 level for a bearish option first. This would start a bearish consolidation that is directed towards the previous low. After that, we expect to see a further pullback and testing of lower support levels. Potential lower targets are 0.07200, 0.07100 and 0.07000 levels.
Shiba Inu chart analysis
The Shiba Inu price dropped to the 0.00000761 level last night, testing that November low. The last time we were in that zone was on the first of November. As in the previous case, we are now receiving support in that area and are starting to recover. A bullish consolidation has started, which takes us above the 0.00000800 level. In the last few hours, we are consolidating around that level and waiting for a new bullish impulse to trigger the bullish option’s continuation.
We need a bounce above the 0.00000810 level to break out of this consolidation. Potential higher targets are the 0.00000820 and 0.00000830 levels. The EMA50 moving average is in the zone around 0.00000840 levels. We need a negative consolidation and a drop to the 0.00000790 level for a bearish option. In this way, we would start a pullback with a look at the previous low. Potential lower targets are the 0.00000780 and 0.00000770 levels.
The post Dogecoin falls to 0.07060, and Shiba Inu is also sliding appeared first on FinanceBrokerage.