- Dogecoin price managed to stop the decline at the 0.07600 level yesterday.
- The Shiba Inu price dropped to 0.00000843 yesterday.
Dogecoin chart analysis
Dogecoin price managed to stop the decline at the 0.07600 level yesterday. After some consolidation, we saw a bullish impulse that pushed us above the 0.07800 level. This morning, we have consolidated there towards a new impulse wave that takes us near the 0.08000 level. We are currently at 0.07995 and very close to seeing a breakout to the upside. In the area around 0.08100, we are facing the EMA200, which was the resistance we faced yesterday in an attempt to get back above it.
With a break above that level, the price will be freed from the downside burden and could lead to further recovery. Possible higher targets are 0.08200 and 0.08300 levels. A pullback to previous support at 0.07800 is required for a bearish option. We then need to break below that and visit yesterday's low, possible lower targets are the 0.07600 and 0.07500 levels.
Shiba Inu chart analysis
The Shiba Inu price dropped to 0.00000843 yesterday. A new low of the year was formed at that place. The decline stopped there, and the Shiba Inu began to recover with bullish consolidation. This consolidation continues today, and the price rose to 0.00000900. We expect to see a continuation of the upside and a rise to higher levels. Possible higher targets are levels 0.00000910 and 0.00000920.
The EMA200 is just above the 0.00000920 level and has been the resistance we have been facing for the past two weeks. The price must fall below the 0.00000880 level to get a bearish option. A drop to a new day's low would increase pressure on the price to continue sliding to the downside. Possible lower targets are levels 0.00000860 and 0.00000840.
