Dogecoin is under pressure from the weekly resistance zone
The Dogecoin price pulled back to the 0.09354 level this morning. The Shiba Inu price encountered resistance at 0.00001390 yesterday.Dogecoin chart analysis
The Dogecoin price pulled back to the 0.09354 level this morning. After gaining new support, the price made a bullish impulse up to the 0.10000 level. We have received support from the EMA 50 moving average and hope for further price recovery to the bullish side. Potential higher targets are 0.10200 and 0.10400 levels. With a return above 0.10400, we will skip the weekly open price, which would be a good indicator for a bullish trend.
For a bearish option, we need a negative consolidation and a move down to the 0.09500 support level. With that step, Dogecoin will put pressure on this morning’s low and daily open price. By falling below, we will see the formation of a new daily low, which confirms the bearish momentum. Potential lower targets are 0.09000 and 0.08500 levels.
Shiba Inu chart analysis
The Shiba Inu price encountered resistance at 0.00001390 yesterday. The inability to continue on the bullish side triggered a price pullback to this morning’s low at 0.00001265. The decline stopped there, after which we saw a bullish impulse to the 0.00001350 level. We are currently hovering around 0.00001330 and testing the EMA 50 moving average and the weekly open price. If we manage to stay at this level, we can hope for further progress to the bullish side.
Potential higher targets are 0.00001400 and 0.00001450 levels. Additional resistance for Shiba Inu is EMA 200 in the zone of 0.00001420 levels. We need a negative consolidation down to the 0.00001250 level for a bearish option. With that, we go to a new daily low and confirm that the price is under pressure to continue its retreat. Potential lower targets are 0.00001200 and 0.00001150 levels.
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