Dogecoin’s Journey: From 0.20637 to 0.12600 and Beyond

Dogecoin’s price was in retreat yesterday after jumping to 0.20637 on Tuesday morning.
Yesterday afternoon, we saw another attempt by Shiba Inu to reach the previous high at the 0.00004575 level. 

Dogecoin chart analysis

Dogecoin’s price was in retreat yesterday after jumping to 0.20637 on Tuesday morning. In the afternoon, it fell to the 0.12600 level. Fortunately, the price found support at that level and started a new bullish consolidation. We quickly climbed above 1.14000, and we continued the recovery with support in the EMA200 moving average. This morning, we broke above the 0.16000 level, while the daily high is at the 0.18000 level.

The current movement has slowed, and we are consolidating around the 0.17000 level. With the new support, we start further recovery and hope for a new daily high. Potential higher targets are the 0.18000 and 0.19000 levels. For a bearish scenario, we need a pullback below the 0.16000 level. Then, we look at the next zone around the 1.15000 level and are close to testing the weekly low.

Shiba Inu chart analysis

Yesterday afternoon, we saw another attempt by Shiba Inu to reach the previous high at the 0.00004575 level. We failed to do so and stopped at the 0.00004400 level. After that, the price initiated a bearish consolidation to support at the 0.00002600 level. There, we formed a higher low and started a bullish consolidation, climbing above the 0.00003800 level. We were close to reaching the 0.000040000 level.

For now, we pause below that level and retrace to 0.00003600. We need a stronger bullish impulse to break above the 0.00004000 level. With such a step, we return to the bullish side, and the potential higher targets are 0.00004200 and 0.00004400 levels.

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