Dogecoin bounces back from Sunday’s drop to new low
- On Sunday, the price of Dogecoin pulled back to the 0.09388 support level
- Over the weekend, the price of Shiba Inu was in retreat until Sunday evening, falling to 0.00001304
Dogecoin chart analysis
On Sunday, the price of Dogecoin pulled back to the 0.09388 support level. On Monday, we quickly stabilized in that zone and initiated a bullish consolidation. With the jump above 0.09800, we received support from the EMA 50 moving average to continue to the bullish side. This morning, we saw the formation of a new weekly high at the 0.10080 level. We only managed to touch the EMA 200 moving average and bounce off it.
This brought the Dogecoin price back up to the 0.09940 level. The price has been consolidating in this zone for a few hours now, and it would have to hold here in order to continue on the bullish side. This time, we expect a break above and growth to a new daily high. Potential higher targets are 0.10200 and 0.10400 levels. With the support of the EMA 200 moving average, we expect increased bullish momentum.
Shiba Inu chart analysis
Over the weekend, the price of Shiba Inu was in retreat until Sunday evening, falling to 0.00001304. On Monday morning, the price managed to consolidate down there and initiate a bullish recovery. That took us above 0.00001360 and the EMA 50 moving average. After that, Shiba Inu continued to the 0.00001380 level, forming a new daily high there. We had no strength for further, and the price retreated to the 0.00001370 level.
The Shiba Inu is now trying to find new support here to continue its recovery to the bullish side. Potential higher targets are 0.00001400 and 0.00001420 levels. By moving up to 0.00001400, we get the support of the EMA 200 moving average, which will strengthen the optimism for a continuation to the bullish side.
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