Dogecoin is back above 0.08000 and Shiba Inu is above EMA50
Dogecoin price managed to bounce back above the 0.08000 level yesterday.
The Shiba Inu price managed to bounce back above the EMA50 moving average yesterday after falling below the previous day.
Dogecoin chart analysis
Dogecoin price managed to bounce back above the 0.08000 level yesterday. In the continuation, we stayed above that level and moved in the 0.08000-0.08100 range. We need a break above the 0.08100 level to continue on the bullish side. A move above would relieve Dogecoin’s price of pressure, and it could proceed with further recovery unhindered. Potential higher targets are 0.08200 and 0.08300 levels.
We need a negative consolidation and pullback below the support at the 0.08000 level for a bearish option. With such a move, we could start a bearish option and form a new today’s price low. Potential lower targets are 0.07900 and 0.07800 levels. Additional support for Dogecoin could be found in the EMA50 moving average in the zone around the 0.07900 level.
Shiba Inu chart analysis
The Shiba Inu price managed to bounce back above the EMA50 moving average yesterday after falling below the previous day. We have found support in the area around the 0.00000830 level and expect to see a continuation of the recovery above the 0.00000840 level. If this kind of consolidation continues today, we could expect a break above and the formation of a new daily price high. Potential higher targets at 0.00000850 and 0.00000860 levels.
For the bearish option, we need negative consolidation and pullback of the Shiba Inu price to the 0.00000820 level. In this way, we would pull back below the EMA50 market average, returning us to the bearish side. After that, we should see a further pullback and the formation of a new low. Potential lower targets are the 0.00000810 and 0.00000800 levels.
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