Dogecoin and Shiba Inu: Dogecoin under resistance at 0.16400

The price of Dogecoin has been in a slight pullback since the beginning of the day. 
This morning’s attempt by the Shiba Inu price to climb to a new weekly high ended in failure. 

Dogecoin chart analysis

The price of Dogecoin has been in a slight pullback since the beginning of the day. We are currently at the 0.16175 level and testing the EMA200 moving average. If the pressure on this level continues, we could see a break below to a new daily low. Potential lower targets are 0.16000 and 0.15900 levels.

With the support of the EMA200, we expect to see the initiation of a positive consolidation. The first step is to move above the 0.16300 level. This is our next support level, and from there we would have a good position to start a further recovery on the bullish side. Potential higher targets are 0.16400 and 0.16500 levels. By crossing above 0.16500, we are going to a new weekly high.

Shiba Inu chart analysis

This morning’s attempt by the Shiba Inu price to climb to a new weekly high ended in failure. We stopped at the 0.00002626 level. After that, the price starts to pull back to the 0.00002560 level. We have a slowdown in the decline here and it could happen that we get new support. Otherwise, we will see a drop below and the formation of a new daily low.

Potential lower targets are the 0.00002550 and 0.00002500 levels. The EMA200 moving average in the 0.00002525 zone is additional support for the Shiba Inu price. We first need a positive consolidation and a return above the 0.00002600 level for a bullish option. That brings us back above the daily open price to the positive side. After that, the chances for further progress to the bullish side increase. Potential higher targets are 0.00002650 and 0.00002700 levels.

The post Dogecoin and Shiba Inu: Dogecoin under resistance at 0.16400 appeared first on FinanceBrokerage.