Dogecoin and Shiba Inu: Shiba Inu drops below 0.0000950

Dogecoin price is on a pullback after seeing a rally to the 0.09155 level on Monday. 
The price of Shiba INu failed to sustain above the 0.00000990 level yesterday,  and a pullback followed. 

Dogecoin chart analysis

Dogecoin price is on a pullback after seeing a rally to the 0.09155 level on Monday. Yesterday, we saw bearish consolidation and a drop to the 0.08260 level. The fall was stopped there, and Dogecoin recovered to the 0.08650 level, where it met new resistance. Again, we are looking at a bearish consolidation and a drop below the EMA200 to the 0.08390 level.

The price is under pressure to start a further retreat and form a daily low. Potential lower targets are 0.08300 and 0.08200 levels. We need to move back above 0.08500 and the EMA200 moving average for a bullish option. It would be ideal to form a bottom there and, from there, start a positive consolidation and recovery. Potential higher targets are 0.08600 and 0.08700 levels.

Shiba Inu chart analysis

The price of Shiba INu failed to sustain above the 0.00000990 level yesterday,  and a pullback followed. The price fell with two quick bearish impulses, forming a low at 0.00000939. We successfully stop there and recover to the 0.00000980 level where we encounter new resistance. This is our today’s price high, from which we started to retreat below the EMA200 and the 0.00000970.

After that, we are looking at a bearish continuation, and the price is currently at 0.00000945 and is close to testing this week’s low. New pressure in that zone could easily break below and send Shiba IN price to new support.

Potential lower targets are the 0.00000930 and 0.00000920 levels. We need a retracement above the EMA200 and the 0.00000970 level for a bullish option. If we form a bottom there, we will have a chance to start a recovery.

The post Dogecoin and Shiba Inu: Shiba Inu drops below 0.0000950 appeared first on FinanceBrokerage.