Connect with us

Hi, what are you looking for?

Investing

Dogecoin and Shiba Inu: Shiba Inu remains below EMA200

Dogecoin and Shiba Inu: Shiba Inu remains below EMA200

The Dogecoin price dropped to 0.12253 on Wednesday, forming a new weekly low. Shiba Inu’s price is in bullish consolidation after falling yesterday to the 0.00002366 level.

Dogecoin chart analysis

The Dogecoin price dropped to 0.12253 on Wednesday, forming a new weekly low. After that, we successfully get support at that level and start recovery. We climbed above the 0.13000 level last night but encountered resistance at the 0.13500 level. We had additional pressure there in the EMA50 moving average.

This led to a new pullback to 0.13000 where we find support again. Dogecoin starts a bullish consolidation from that level and climbs above the 0.15000 level and the EMA200 moving average. We continue to move above those support levels and rise to a new daily high at the 0.15780 level. Potential higher targets are 0.16000 and 0.16500 levels.

Shiba Inu chart analysis

Shiba Inu’s price is in bullish consolidation after falling yesterday to the 0.00002366 level. That took us up to the 0.00002800 level last night, where we tested the EMA200 moving average. We failed to move above it, and the price pulled back to the 0.00002630 level. Here, we get support from the EMA50 moving average and turn to the bullish side again.

With another impulse, we climb up to the EMA200 moving average and retest the strength of its resistance. A break above and a jump to a new high could occur this time. Potential higher targets are 0.00002850 and 0.00002900 levels. For a bearish option, we need a pullback below the 0.0002600 level. With the new daily low, the bearish pressure also increases, and the potential lower targets are 0.00002500 and 0.00002400 levels.

The post Dogecoin and Shiba Inu: Shiba Inu remains below EMA200 appeared first on FinanceBrokerage.

You May Also Like

Editor's Pick

On April 23, 1985, the Coca-Cola Company made one of the biggest mistakes in American business history: it changed the formula for Coca-Cola. Outraged...

Editor's Pick

The final December results from the University of Michigan Surveys of Consumers show overall consumer sentiment improved for the month but remains near historically...

Editor's Pick

For years the North Korean playbook was obvious to the world. The Democratic People’s Republic of Korea wanted to be the center of attention....

Editor's Pick

Sales of new single-family homes rose again in November, increasing 5.8 percent to 640,000 at a seasonally-adjusted annual rate from a 605,000 pace in...