Dogecoin and Shiba Inu: Shiba rises to two-week high
- Last night, the Dogecoin price climbed to a new weekly high at the 0.10797 level
- Last night, the Shiba Inu price formed a new weekly high at 0.00001423
Dogecoin chart analysis
Last night, the Dogecoin price climbed to a new weekly high at the 0.10797 level. After that, the price lost its previous momentum and stopped there, triggering a bearish consolidation. This morning, we saw a descent to support at the 0.10400 level. Here, we sat the EMA 50 moving average, which stopped further pullback. The price stabilized in that zone and started a new bullish consolidation.
Dogecoin is now at 0.10580 and could soon return above the daily open price of 0.10600. Potential higher targets are the 0.10700 and 0.10800 levels. For a bearish option, we need a negative bearish consolidation. A revisit to this morning’s support zone would be a sign that the price is under more pressure. After that, we expect to see a further pullback and the formation of a new lower low. Potential lower targets are the 0.10300 and 0.10200 levels.
Shiba Inu chart analysis
Last night, the Shiba Inu price formed a new weekly high at 0.00001423. During the morning, the price could not withstand the pressure in that zone and began to retreat. The new support level is at 0.00001390, after which we turned again to the bearish side. Now, we are again above the daily open price and moving around the 0.00001420 level. We are close to this week’s high, and a break above to a new weekly high could easily happen.
Potential higher targets are 0.00001430 and 0.00001440 levels. We need a negative consolidation retracement below the 0.00001400 level for a bearish option. With that step, Shiba Inu would move away from the previous path and turn to the bearish side. Potential lower targets are 0.00001380 and 0.00001360 levels. Additional price support is the EMA 50 moving average in the 0.00001380 zone.
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