- Dogecoin price fell back to the 0.07500 level yesterday with a bearish impulse, marking the lowest level of the year.
- The price of the Shiba Inu fell to 0.00000853 levels yesterday.
Dogecoin chart analysis
Dogecoin price fell back to the 0.07500 level yesterday with a bearish impulse, marking the lowest level of the year. The last time we were in that area was in November. After yesterday's decline, the price quickly retreated above the 0.08000 level. We were able to get support at this level and move in the 0.08000-0.08400 range. We will need to break the 0.08400 level if we want to see a more tangible recovery from the current situation.
Possible higher targets are the 0.08600 and 0.08800 levels. The EMA50 is in the area around 0.09000 levels. We need to break below the 0.08000 support level to get a bearish option. This would lead to negative consolidation and a decline in the price of Dogecoin. Possible lower targets are 0.07800 and 0.07600 levels. Depending on the downward impulse, the value of the new low will also depend.
Shiba Inu chart analysis
The price of the Shiba Inu fell to 0.00000853 levels yesterday. With this move, the lowest level for this year was formed. We stop there and go up to the 0.00000920 level. The price also receives support at this level and begins a bullish consolidation above the 0.00000960 level. We now need this consolidation to continue to exit the downtrend. Possible higher targets are the 0.00000980 and 0.00001000 levels.
The EMA50 moving average awaits us in the area around the 0.00001020 level. We need consolidation and a negative pullback to support the bearish option at 0.00000920. New pressure in that area will likely lead to further declines and a search for support at lower levels. Possible lower targets are 0.00000900 and 0.00000880 levels.