Dogecoin Price Analysis: Consolidating around 0.17250 Level
Dogecoin’s price pulled back from yesterday’s weekly high to a support level of 0.15500 last night.
Yesterday, we saw a bearish consolidation of Shiba Inu from 0.00003500 to 0.000002993 levels.
Dogecoin chart analysis
Dogecoin’s price pulled back from yesterday’s weekly high to a support level of 0.15500 last night. We quickly pulled back above the 0.16500 level and the EMA200 moving average.
There, we formed a new bottom, and from there, we started a new positive consolidation. That took us above the 0.17000 level this morning. We are currently consolidating around the 0.17250 level and have support from the EMA50 moving average.
To move above this consolidation, we need a bullish impulse above 0.17400. After that, we expect further growth and correction of the price of Dogecoin. Potential higher targets are 0.17600 and 0.17700 levels. We need a price drop below 0.17000 and the EMA50 moving average for a bearish option.
With that step, we strengthen the bearish momentum and push the price down. Potential lower targets are 0.16800 and 0.16600 levels.
Shiba Inu chart analysis
Yesterday, we saw a bearish consolidation of Shiba Inu from 0.00003500 to 0.000002993 levels. The price managed to stop the fall there and recover above the 0.003150 level.
There, we get additional support in the EMA200 moving average, and after that, we start a bullish consolidation. Today we make a break above 0.00003200 and rise to a daily high at 0.00003350 level.
For now, we are holding below and pulling back slightly to the 0.00003265 level. Here, we have the support of the EMA50 moving average, and we expect it to help us break to the bullish side. Potential higher targets are the 0.00003400 and 0.0003450 levels.
If we slip below the EMA50 and 0.000032500 levels, we will break through the previous bullish formation and thus increase the pressure on the Shiba Inu price. Potential lower targets are the 0.00003200 and 0.00003150 levels.
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