Dogecoin and Shiba Inu: Dogecoin in sideways consolidation
- Over the weekend, Dogecoin’s price moved in the 0.13800-0.14700 range
- Shiba Inu price retreated to 0.00001802 levels on Monday, October 21st
Dogecoin chart analysis
Over the weekend, Dogecoin’s price moved in the 0.13800-0.14700 range. Then, on Monday, October 21, we saw a new high form at the 0.14975 level. The price failed to hold there and initiated a pullback to 0.13800. We were once again forced to test the support of the weekend range move. After Dogecoin once again managed to stabilize there, a bullish consolidation to the 0.14800 level was initiated.
The price formed a new daily high there. We are currently at the 0.14420 level and trying to hold above the daily open level and the EMA 50 moving average. If the support is adequate and the price stabilizes there, we can hope for the initiation of bullish consolidation. Potential higher targets are 0.14800 and 0.15000 levels. The price must pull back below the 0.14000 level for a bearish option. With that step, it falls below the weekly open level to the negative side. After that, we will see a new pressure on the 0.13800 support level. Potential lower targets are 0.13600 and 0.13400 levels.
Shiba Inu chart analysis
Shiba Inu price retreated to 0.00001802 levels on Monday, October 21st. Subsequently, the price moved into a sideways trend in the 0.00001820-0.00001860 range. The increased pressure creates the EMA 200 moving average. That, for now, keeps the Shiba Inu at 0.00001825 to the downside. It could quickly happen to see a bearish impulse and the formation of a new weekly low. Potential lower targets are 0.00001800 and 0.00001780 levels.
For a bullish option, we need a positive consolidation and a return above the EMA 200 moving average first. With his support, it will be much easier for us to continue on the bullish side. At 0.00001860, we will get new support in EMA 50. After that, Shiba Inu should have enough bullish momentum to grow to higher levels. Potential higher targets are 0.00001880 and 0.00001900 levels.
The post Dogecoin and Shiba Inu: Dogecoin in sideways consolidation appeared first on FinanceBrokerage.