Dogecoin and Shiba Inu fell to new weekly lows last night
- Dogecoin’s price pulled back to support at the 0.10442 level last night
- Last night, the Shiba Inu price retreated to a new weekly low at 0.00001435
Dogecoin chart analysis
Dogecoin’s price pulled back to support at the 0.10442 level last night. From this support level, we were looking at a recovery above 0.10600 this morning. A mild bullish consolidation is current today, and we expect to see further recovery to the bullish side. In the 0.10700 zone, we encounter the EMA 200 moving average, and we need a jump above it for further recovery to the bullish side.
Potential higher targets are 0.10800 and 0.10900 levels. We need a return below the daily open price of 0.10500 for a bearish option. With that move, Dogecoin would return to the negative side, intensifying the bearish pressure on the price. After that, we expect a drop to a new low and confirmation of a continuation on the bearish side. Potential lower targets are 0.10300 and 0.10200 levels.
Shiba Inu chart analysis
Last night, the Shiba Inu price retreated to a new weekly low at 0.00001435. With this step, the price fell to the weekend low of 0.00001470. In this zone, we encountered the 200 EMA, which stopped further retreat and initiated a certain recovery. The price recovered to the 0.00001480 level. That’s where we lost momentum and turned to the bearish side again. Now, we again look at the EMA 200 moving average and hope for its support.
Potential lower targets are the 0.00001440 and 0.00001420 levels. For a bullish option, the Shiba Inu price would have to stabilize above the 0.00001490 level. There, it would find new support in the EMA 50 moving average. With the new support, we expect to start a bullish consolidation and climb to higher levels easily. Potential higher targets are 0.00001500 and 0.00001520 levels.
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