Dogecoin and Shiba Inu: Dogecoin is up since this morning

Dogecoin chart analysis

Yesterday, the Dogecoin price pulled back to new support at the 0.09857 level. Shortly after that, a bullish consolidation and a return above the 0.10000 weekly open price were initiated. The return to the positive side reinforced the bullish momentum that Dogecoin took advantage of. With a couple of bullish impulses, we moved above the EMA 200 moving average and got its support. The price did not stop there but continued to a new weekly high at 0.10581.

We are now at 0.10500 and will try to hold here. If we succeed, Dogecoin should continue to grow on the bullish side. Potential higher targets are the 0.10600 and 0.10700 levels. We need a negative consolidation and pullback to start with the 0.10400 level for a bearish option. With that step, the previous momentum is reduced, and we could say that it is the beginning of a bigger pullback. Potential lower targets are the 0.10300 and 0.10200 levels.

Shiba Inu chart analysis

Over the weekend, Shiba Inu’s price rose to 0.00001360, forming a new high there. There, we encountered the EMA 200 moving average, which stopped further price advances and initiated the pullback. So, on Sunday, we saw a pullback that continued on Monday to support at the 0.00001300 level. We tested that support zone twice. After the second time, a stronger bullish consolidation was initiated, and a break above the EMA 200 and 0.00001360 weekend high was initiated.

Shiba Inu continued to rise this morning to 0.00001385, a new weekly high. We are now in a slight pullback and are holding above the 0.00001370 level. If we manage to stay up here, we could initiate an impulse to a new weekly high. Potential higher targets are the 0.00001390 and 0.00001400 levels.

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