- Dogecoin price was on the decline yesterday after jumping to 0.20637 on Tuesday morning.
- Yesterday afternoon we saw another attempt by the Shiba Inu to reach the previous high at the 0.00004575 level.
Dogecoin chart analysis
Dogecoin price was on the decline 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 this level and began a new bullish consolidation. We quickly rose above the 1.14000 level, and continued to recover supported by 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 down, and we are consolidating around the 0.17000 level. With the new support, we begin further recovery and hope to achieve a new daily high. Possible higher targets are 0.18000 and 0.19000 levels. For the bearish scenario, we need to pull back below the 0.16000 level. After that, we look at the next area around the 1.15000 level and approach a test of the weekly bottom.
Shiba Inu chart analysis
Yesterday afternoon we saw another attempt by the 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 started consolidating lower to support level 0.00002600. There, we made a higher low and started the bullish consolidation, rising above the 0.00003800 level. We are close to reaching the 0.000040000 level.
For now, we pause below this level and return to 0.00003600. We need a stronger bullish push to break the 0.00004000 level. With this move we are back to the upside and the possible higher targets are the 0.00004200 and 0.00004400 levels.
