Dogecoin and Shiba Inu: Dogecoin remains in a bearish trend

Dogecoin chart analysis

Dogecoin price remains under pressure today, continuing the previous bearish consolidation. We are currently at the 0.14400 level and on the way to a new weekly low. Today’s resistance is at 0.15000 with the EMA50 moving average. We expect to continue to the 0.14000 level. Potential lower targets are 0.13500 and 0.13000 levels.

For a bullish option, we need a positive consolidation and return of Dogecoin price above 0.15000 and the EMA50 moving average. If we succeed in this, we move to the positive side and we can hope for further recovery. The next important zone is yesterday’s around 0.15800 levels. Breaking above it significantly increases the chances of a bigger recovery. Potential higher targets are 0.16000 and 0.16500 levels.

Shiba Inu chart analysis

The Shiba Inu price continues to move sideways today. We still remain in the 0.00002100-0.00002300 range. We are currently moving towards the lower level and may be able to test it soon. By falling below 0.00002100, we go to a new weekly low, and thus, we get confirmation that the bearish consolidation is possible to extend. Potential higher targets are the 0.00002000 and 0.00001900 levels.

We need a positive consolidation above the 0.00002300 level for a bullish option. There, we return above the weekly open price and move to the positive side. Such a picture strengthens optimism for a further continuation to the bullish side. Potential higher targets are the 0.00002400 and 0.00002500 levels. We could have additional resistance in the EMA200 moving average around the 0.00002400 level.

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