Dogecoin and Shiba Inu: Dogecoin remains below 0.05900

Dogecoin and Shiba Inu: Dogecoin remains below 0.05900

Dogecoin price continues yesterday’s sideways movement in the 0.05850-0.05950 range.

The Shiba Inu price tried this morning with a bullish impulse to start a recovery, but it was stopped at the 0.00000695 level.

Dogecoin chart analysis

Dogecoin price continues yesterday’s sideways movement in the 0.05850-0.05950 range. This morning, we had two breakouts from this channel: a jump to the upper resistance line and a bearish impulse to the 0.05800 level. After that, we see the normalization of the movement and return to the starting position within the previous movement.

We need a positive consolidation and a break above the 0.05950 level for a bullish option. If we succeed in this, we could expect to see further growth and recovery of the price of Dogecoin. Potential higher targets are 0.06000 and 0.06050 levels. For a bearish option, we need a drop in price below the 0.05850 support level. We would again have the opportunity to test the previous low from the beginning of the week, and the potential lower targets are the 0.05750 and 0.05700 levels.

Shiba Inu chart analysis

The Shiba Inu price tried this morning with a bullish impulse to start a recovery, but it was stopped at the 0.00000695 level. A bearish impulse soon followed and a pullback below the 0.00000685 level. We are now on track to drop even lower and are very close to testing the low from the beginning of the week at the 0.00000673 level. Potential lower targets are the 0.00000670 and 0.00000665 levels.

We need a positive consolidation and a jump up to the 0.00000700 level for a bullish option. Then, we need to hold on up there in order to form a new bottom from which we would start further recovery. Potential higher targets are the 0.00000705 and 0.00000710 levels. Additional resistance in the zone around the 0.00000710 level is in the EMA50 moving average.

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