Dogecoin and Shiba Inu: Doge continues on the positive side
- On Tuesday, we watched the Dogecoin price return to the 0.09800 level
- The Shiba Inu price retreated last night to a new weekly low at the 0.00001293 level
Dogecoin chart analysis
On Tuesday, we watched the Dogecoin price return to the 0.09800 level. After a short stay in that zone, a bullish consolidation was initiated, and a return above the EMA 200 moving average and 0.10000. The price continued to rise this morning, forming a new daily high at the 0.10300 level. We also received new support in the EMA50 moving average, and everything indicates that we will see a continuation on the bullish side.
Potential higher targets are the 0.10400 and 0.10500 levels. For the bearish option, we need negative consolidation below the EMA 50 and 0.10100 levels. With that step, Dogecoin retreats below the daily open price and moves to the bearish side. After that, we expect a test of support in the EMA 200 moving average. Potential lower targets are the 0.09800 and 0.09600 levels.
Shiba Inu chart analysis
The Shiba Inu price retreated last night to a new weekly low at the 0.00001293 level. In the next hour, the price rose above the 0.00001300 weekly open price. The return to the positive side strengthens the momentum, and we see the price rise to the 0.00001335 level. With that step, we jumped over the EMA 200 moving average, gaining its support for continued recovery. Shiba Inu took advantage of that this morning and climbed to the 0.00001350 level.
We continued to hold above the EMA 200 and hope for a new impulse to initiate a bullish consolidation. Potential higher targets are the 0.00001360 and 0.00001370 levels. For the bearish option, we need negative consolidation of the Shiba Inu price below the 0.00001320 level. This moves us below the daily open price, thus strengthening the bearish momentum. Potential lower targets are the 0.00001310 and 0.00001300 levels.
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