Dogecoin and Shiba Inu: Dogecoin has resistance at 0.12400
This morning, the Dogecoin price encountered resistance at 0.12400. This morning, the Shiba Inu price was unable to surpass the EMA 50 moving average and 0.00001900.Dogecoin chart analysis
This morning, the Dogecoin price encountered resistance at 0.12400. Failure to continue above this level could trigger a deeper pullback, as we are under pressure from the EMA 50 moving average. We have already had one impulse to the 0.12000 level, which could initiate a move to the bearish side. By falling below this low, Dogecoin would form a new daily low and thereby confirm its weakness.
Despite the current challenges, Dogecoin has potential for recovery. The 0.11800 and 0.11600 levels present potential lower targets, with the first additional support being the 200 EMA in the 0.11700 zone. For a bullish option, the price would have to retrace above the EMA 50 moving average and the 0.12400 level. Then, we need to stabilize there before proceeding with further recovery. Potential higher targets are the 0.12600 and 0.12800 levels.
Shiba Inu chart analysis
This morning, the Shiba Inu price was unable to surpass the EMA 50 moving average and 0.00001900. This moving average is a crucial technical indicator that the price is currently under. We encountered resistance at this level and pulled back to the 0.00001850 support level, creating a mildly bearish picture that could worsen with a break below. Potential lower targets are the 0.00001800 and 0.00001750 levels.
Additional price support for the Shiba Inu at 0.00001800 is at the EMA 200 moving average. For a bullish option, we need a price impulse above the EMA 50 and the 0.00001900 level. Then, we need to maintain ourselves there above. If we succeed in this, we can hope to initiate bullish consolidation and price recovery. Potential higher targets are the 0.00001950 and 0.00002000 levels.
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