Economy 13-06-2024 11:58 6 Views

Dogecoin and Shiba Inu: Dogecoin remains above 0.14250

DOGECOIN

Dogecoin and Shiba Inu: Dogecoin remains above 0.14250

  • Dogecoin’s price demonstrated remarkable resilience yesterday, bouncing back after a temporary dip.
  • The Shiba Inu price briefly recovered yesterday to the 0.00002330 level. 

Dogecoin chart analysis

Dogecoin’s price demonstrated remarkable resilience yesterday, bouncing back after a temporary dip. The price surge marked a weekly high at the 0.15096 level, a clear indication of its potential. Following this, we observed a bearish consolidation to the 0.14140 level. However, if we manage to hold above this level, we will establish a higher low, paving the way for a bullish trend. The breakthrough above the 0.14500 level is the first promising sign of a recovery.

Potential higher targets are 0.14750 and 0.15000 levels. We need a negative consolidation and pullback below the 0.14000 level for a bearish option. This moves us below the EMA50 moving average to a new daily low and confirms the strengthening of bearish pressure. Potential lower targets are 0.13500 and 0.13000 levels.

Dogecoin chart analysis

 

Shiba Inu chart analysis

The Shiba Inu price briefly recovered yesterday to the 0.00002330 level. There, we encountered resistance, after which a new retreat was initiated. We failed to reach EMA200 and the weekly open price at 0.00002350. The price pulled back to the 0.00002130 level this morning and is currently holding above that level. We can expect an impulse that would trigger a bullish consolidation above the 0.00002200 level.

There, we will test the EMA50 moving average and try to move above. With its support, Shiba Inu should trigger further recovery to the bullish side. Potential higher targets are 0.00002250 and 0.00002300 levels. We need a negative consolidation and a price drop to the 0.00002100 level for a bearish option. A new test of the weekly support zone will introduce new volatility. Potential lower targets are the 0.00002050 and 0.00002000 levels.

Shiba Inu chart analysis

 

The post Dogecoin and Shiba Inu: Dogecoin remains above 0.14250 appeared first on FinanceBrokerage.

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