By Dogecoin and Shiba Inu: New Highs and Support on Tuesday
- Over the weekend, Dogecoin’s price moved in the 0.11000-0.11200 range
- The price of Shiba Inu rose to 0.00001898 level this week
Dogecoin chart analysis
Over the weekend, Dogecoin’s price moved in the 0.11000-0.11200 range. On Monday, the price initiated a bullish consolidation and received support from the EMA 200 moving average. The price growth continued until this morning when we formed a new high at the 0.11932 level. The price lost momentum in that zone and began to retreat below the daily open level. We are now on the negative side and have formed a new daily low at 0.11550.
Dogecoin is calm for now and has managed to hold above that level. If it stays there for too long, we could see a bearish impulse below and the formation of a new low. Potential lower targets are 0.11400 and 0.11200 levels. For a bullish option, we expect Dogecoin to stabilize at 0.11600. After that, the price will initiate a bullish consolidation above the 0.11800 level. With that momentum, we hope to test this morning’s high. Potential higher targets are 0.12000 and 0.12200 levels.
Shiba Inu chart analysis
The price of Shiba Inu rose to 0.00001898 level this week. After that, the price stopped there, and this morning, we saw a pullback from that level to the 0.00001810 support level. In this zone, the EMA 200 moving average approached us. We received his support, which pushed the price to the 0.00001840 level. Shiba Inu has solid momentum to initiate a bullish consolidation and recovery to higher levels.
Potential higher targets are 0.00001860 and 0.00001880 levels. We do not rule out the formation of a new high either, which depends on the bullish momentum’s strength. For a bearish option, we need a negative consolidation and a price drop below the EMA 50 moving average and 0.00001800. With that step, we will form a new daily low and confirm that the price is under bearish pressure. Potential lower targets are the 0.00001780 and 0.00001760 levels.
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