Economy

Dogecoin and Shiba Inu: Dogecoin slides below 0.16000

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Dogecoin and Shiba Inu: Dogecoin slides below 0.16000

The previous Wednesday, the price of Dogecoin fell to the 0.12010 support level.
Shiba Inu price pulled back to the 0.00002055 support level last week.

Dogecoin chart analysis

The previous Wednesday, the price of Dogecoin fell to the 0.12010 support level. After forming a new low, the price managed to hold above and initiate a bullish consolidation that lasted until Saturday at the 0.17000 level. This is where we formed last week’s high. Then followed a pullback to support at the 0.15600 level. The new support on Saturday initiated a positive consolidation to the 0.16925 level.

We failed to climb to a new high and there was a quick bearish consolidation and a drop below the weekend support at the 0.15600 level. The price has pulled back below the EMA50 moving average and is now under pressure to start a further pullback. Potential lower targets are 0.15000 and 0.14500 levels. Dogecoin could find support in the EMA200 moving average in the zone of 0.15000 levels.

Shiba Inu chart analysis

Shiba Inu price pulled back to the 0.00002055 support level last week. After forming a new low at that level, a positive consolidation was initiated until 0.00002633, where the price makes a weekly high. There we encounter resistance and start pulling back to the first support at the 0.00002430 level. On Sunday, we saw the initiation of a recovery with the support of the EMA50 moving average.

This led to a rise yesterday to this week’s high at the 0.00002570 level. We fail to climb to a new high, and the Shiba Inu begins to retreat. This morning, we fell below the EMA200 moving average, which only added to the bearish pressure. We are now at 0.00002365 and in a bearish consolidation with a look at lower levels. Potential lower targets are 0.00002300 and 0.00002250 levels.

 

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