Investment Tips 24-05-2023 12:34 26 Views

Dogecoin and Shiba Inu: Dogecoin retreats to 0.07100

Shiba Inu 

Dogecoin and Shiba Inu: Dogecoin retreats to 0.07100

  • The price of Dogecoin is again in the support zone around the 0.07100 level. 
  • This morning we saw the Shiba Inu price pull back down to 0.00000860. 

Dogecoin chart analysis

The price of Dogecoin is again in the support zone around the 0.07100 level. Yesterday, the price hovered around the 0.07250 level but lost support at that point and was followed by a breakout below and the previous decline. Despite the present bearish pressure, we are currently managing to hold above the 0.07100 level.

We need a new positive consolidation and a climb above the 0.07150 level for a bullish option. Then we need to keep above before continuing to the bullish side. The situation on the chart would be similar to Monday when the bullish impulse started from that place. Potential higher targets are 0.07200 and 0.07250 levels.

Dogecoin chart analysis

Shiba Inu Chart Analysis

This morning we saw the Shiba Inu price pull back down to 0.00000860. Price pressure keeps us still at that level, which could further lower Shiba Inu. Potential lower targets are the 0.00000850 and 0.00000840 levels. That would lead to a retest of the support from earlier in the week.

We need a positive consolidation and a minimum growth above the 0.00000875 level for a bullish option. That way, we would move out of the uncomfortable zone. It is then necessary to maintain ourselves up there, and we would start further recovery with the next impulse. Potential higher targets are 0.00000880 and 0.00000890 levels.

Shiba Inu Chart Analysis

 

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