Dogecoin and Shiba Inu: Dogecoin in retreat since last night
- Last night, Dogecoin climbed to a new weekly high of 0.12999
- On Wednesday, Shiba Inu’s price moved to a new weekly high at 0.00001914
Dogecoin chart analysis
Last night, Dogecoin climbed to a new weekly high of 0.12999. After that, the price loses momentum and begins to retreat until this morning’s low at 0.12188. We met the EMA 50 moving average in this zone, and now we are trying to hold above it. If the current pressure continues, we will see a break below and a drop to a new daily low. This confirms a further pullback and a visit to lower support levels.
Potential lower targets are 0.12000 and 0.11800 levels. Another step lower and Dogecoin will test higher support at the EMA 200 moving average. For a bullish option, we need a positive consolidation and stay above the EMA 50 first of all. After that, the price has an opportunity to return above the daily open price to the positive side. This will strengthen the bullish momentum for further recovery. Potential higher targets are 0.12800 and 0.13000 levels.
Shiba Inu chart analysis
On Wednesday, Shiba Inu’s price moved to a new weekly high at 0.00001914. After that, we lost the previous momentum and retreated to the 0.00001880 zone. This morning, there was an increase in pressure at that level. The price broke below and fell to 0.00001800, forming a new daily low there. We expect to see a continuation to 0.00001780 and test the EMA 200 moving average there.
To continue to the bearish side, the Shiba Inu should move below and thereby confirm the current bearish momentum. Potential lower targets are the 0.00001760 and 0.00001740 levels. For a bullish option, we need to move back above 0.00001860 and the EMA 50 moving average. With that step, we turn to the bullish side, and the chances of seeing a recovery increase. Potential higher targets are 0.00001880 and 0.00001900 levels.
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