- Today's bullish consolidation pushed Dogecoin price to 0.11494, marking a new weekly high
- Shiba Inu price is in a strong bullish consolidation, leading to the formation of a new weekly high at 0.00001657
Dogecoin Chart Analysis
Today's bullish consolidation pushed Dogecoin price to 0.11494, marking a new weekly high. This morning we saw a brief pullback to the support level at 0.10700. Additional support came from the 200 EMA moving average in that zone, after which the price began a bullish consolidation. Dogecoin easily broke through the weekly resistance zone around 0.11100, strengthening the bullish momentum for today's rise.
The price is now at 0.13500 and is trying to stay above the 0.11200 level. If it succeeds, it will have the opportunity to continue its previous uptrend. The possible highest targets are at the 0.11600 and 0.11800 levels. For a bearish scenario, Dogecoin would have to fall below the 0.11100 level, which would return it to the previous range from earlier in the week. The lowest possible targets are at the 0.11000 and 0.10800 levels. The 200 EMA remains the main support to stay on the bullish side.
Shiba Inu graphic analysis
Shiba Inu price is in a strong bullish consolidation, leading to a new weekly high at 0.00001657. We are currently at the 0.00001640 level and successfully staying within the zone of this week's high. Shiba Inu could soon hit a new weekly high if the bullish momentum continues. The highest potential targets are at the 0.00001700 and 0.00001800 levels.
If a pullback occurs below the 0.00001600 level, it would indicate that Shiba Inu lacks the strength to continue its upward movement, which would lead to a pullback to a new low. The lowest possible targets are at the 0.00001550 and 0.00001500 levels. Around the 0.00001525 zone, we will test the daily opening level and the 50 EMA moving average. Stronger support lies around the weekly opening level, near the 200 EMA moving average.
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