Economy 21-03-2024 10:31 5 Views

Dogecoin and Shiba Inu: Shiba Inu remains below EMA200

Dogecoin

Dogecoin and Shiba Inu: Shiba Inu remains below EMA200

  • The Dogecoin price dropped to 0.12253 on Wednesday, forming a new weekly low. 
  • Shiba Inu’s price is in bullish consolidation after falling yesterday to the 0.00002366 level. 

Dogecoin chart analysis

The Dogecoin price dropped to 0.12253 on Wednesday, forming a new weekly low. After that, we successfully get support at that level and start recovery. We climbed above the 0.13000 level last night but encountered resistance at the 0.13500 level. We had additional pressure there in the EMA50 moving average.

This led to a new pullback to 0.13000 where we find support again. Dogecoin starts a bullish consolidation from that level and climbs above the 0.15000 level and the EMA200 moving average. We continue to move above those support levels and rise to a new daily high at the 0.15780 level. Potential higher targets are 0.16000 and 0.16500 levels.

Dogecoin chart analysis

Shiba Inu chart analysis

Shiba Inu’s price is in bullish consolidation after falling yesterday to the 0.00002366 level. That took us up to the 0.00002800 level last night, where we tested the EMA200 moving average. We failed to move above it, and the price pulled back to the 0.00002630 level. Here, we get support from the EMA50 moving average and turn to the bullish side again.

With another impulse, we climb up to the EMA200 moving average and retest the strength of its resistance. A break above and a jump to a new high could occur this time. Potential higher targets are 0.00002850 and 0.00002900 levels. For a bearish option, we need a pullback below the 0.0002600 level. With the new daily low, the bearish pressure also increases, and the potential lower targets are 0.00002500 and 0.00002400 levels.

Shiba Inu Chart Analysis

The post Dogecoin and Shiba Inu: Shiba Inu remains below EMA200 appeared first on FinanceBrokerage.

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