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Dogecoin and Shiba Inu: Dogecoin finds support at 0.10600

Dogecoin and Shiba Inu: Dogecoin finds support at 0.10600

This morning, the Dogecoin price found support at the 0.10600 level. The price of Shiba Inu rose to 0.00001700 levels to a new daily high.

Dogecoin chart analysis

This morning, the Dogecoin price found support at the 0.10600 level. After that, a bullish consolidation at the 0.11050 level was initiated. This is where we meet the EMA 200 moving average, which, for now, is an obstacle to further recovery. A slight pullback to 0.10950 is made by Dogecoin moving away from the EMA 200. On the downside, we have support in the EMA 50 moving average at 0.10800. A new bullish impulse would move us above 0.11000 and thereby jump the barrier in the upper moving average.

Potential higher targets are the 0.11500 and 0.12000 levels. For a bearish option, we need a negative consolidation and a new pullback to 0.10600 this morning’s support. We are very close to testing the weekly open price at the 0.10400 level. If Dogecoin continues its retreat, it could form a new weekly low. Potential lower targets are the 0.10000 and 0.09500 levels.

Shiba Inu chart analysis

The price of Shiba Inu rose to 0.00001700 levels to a new daily high. For now, we stop there and make a slight pullback to the 0.00001660 level. This morning, we found support in the EMA 200 moving average, after which the price initiated a bullish consolidation. We are now seeing a re-weakening of the Shiba Inu, which could pull back to the EMA 200 and the 0.00001640 level.

With new pressure at that level, the price could produce an impulse below and form a daily low. Potential lower targets are 0.00001600 and 0.00001550 levels. We need a positive consolidation above the 0.00001700 level for a bullish option. Then, the Shiba Inu needs to hold there before moving on to the bullish side. Potential higher targets are 0.00001750 and 0.00001800 levels.

The post Dogecoin and Shiba Inu: Dogecoin finds support at 0.10600 appeared first on FinanceBrokerage.

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