Dogecoin and Shiba Inu: Dogecoin retreats from 0.06420

Dogecoin and Shiba Inu: Dogecoin retreats from 0.06420

The first part of Monday was very bullish for Dogecoin, with a jump to the 0.06420 level.

After yesterday’s jump to the 0.00000761 level, the Shiba Inu price pulled back to support at the 0.00000725 level.

Dogecoin chart analysis

The first part of Monday was very bullish for Dogecoin, with a jump to the 0.06420 level. In the second part of the day, the price retreated to the 0.06090 level. We managed to consolidate and recover to the 0.06200 level quickly. There, we find support in the EMA50 moving average; for now, we are moving slightly above it. A break below would mean that Dogecoin has no strength to recover, and we will see a continued pullback to the bearish side. Potential lower targets are the 0.06140 and 0.06120 levels.

We need a positive consolidation and price breakout above the 0.06240 level for a bullish option. Then, we need to maintain our position above so that we can start further recovery with a new impulse. Potential higher targets are 0.06260 and 0.06280 levels.

Shiba Inu Chart Analysis

After yesterday’s jump to the 0.00000761 level, Shiba Inu price pulled back to support at the 0.00000725 level. We have once again returned to the previous support zone, and for now, we are holding in that range. If the price continues with the current consolidation, we could expect to see a recovery and the beginning of a bullish consolidation. We need a break above the 0.00000740 level and the EMA50 moving average. Potential higher targets are the 0.00000745 and 0.00000750 levels.

We need a negative consolidation and a new pullback to the 0.00000725 level for a bearish option. A break below would lead to the formation of a new low and thus confirm the bearish scenario. Potential lower targets are the 0.00000720 and 0.00000715 levels.

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