- On Saturday, Dogecoin price rose to 0.13210, a new two-month high
- Last week's bullish streak of Shiba Inu price stopped on Friday at the level 0.00002169
Dogecoin Chart Analysis
On Saturday, Dogecoin price rose to 0.13210, a new two-month high. Shortly after that, we saw the start of a bearish consolidation and a drop on Sunday below 0.12400 and the 50 EMA. Monday put more pressure on the price, which continued to fall towards the 0 support level, 11600. For now, Dogecoin has managed to stop further pullbacks and return above the 0.11800 level.
New support in this zone at the 200 EMA could stop further declines and trigger a bullish consolidation. A move above 0.12000 would see Dogecoin take the first step to start a new recovery. The highest possible targets are the 0.12200 and 0.12400 levels. The inability to return to the bullish side will continue to push the price to a new daily low. With that step, we strengthen the bearish momentum and expect to see a further pullback. The possible lower targets are the 0.11400 and 0.11200 levels.
Shiba Inu graphic analysis
Last week's Shiba Inu price bullish streak stopped on Friday at the 0.00002169 level. Over the weekend, the price retreated and fell below the 0.00002000 level. The pullback below the 50 EMA continued on Monday. This caused the price to fall to 0.00001750 and seek support at the 200 EMA. For now, we have the support of the moving average and hope to stay above it.
If we achieve this, the chances of Shiba Inu starting a new bullish consolidation will increase. The highest potential targets are the 0.00001850 and 0.00001900 levels. For a bearish option, we need a negative consolidation and a price drop below the 200 EMA. A break below will reinforce the bearish trap and put pressure on the price. Possible lower targets are the 0.00001700 and 0.00001650 levels.
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