Dogecoin and the Shiba Inu: Dogecoin on the positive side
Shiba Inu’s price formed a new July high today at the 0.00002018 level.
Dogecoin chart analysis
This morning, the Dogecoin price rose to the 0.12784 level, forming a new July high there. After that, we see a rejection from there and a descent to the 0.12240 level. The price is under pressure to make a deeper retreat, and the first target is the EMA 50 moving average at the 0.11860 level. Depending on the strength of the momentum, Dogecoin could retest the weekly open price. Potential higher support is in the 0.11300 zone in the EMA 200 moving average.
For a bullish option, we need a positive consolidation and a return above the 0.12500 level. With that, we move above the daily open price to the positive side. We are within reach of this morning’s high, and we will have the opportunity to climb to a new one. Potential higher targets are the 0.13000 and 0.13500 levels.
Shiba Inu chart analysis
Shiba Inu’s price formed a new July high today at the 0.00002018 level. After that, there was a sharp decline in the bullish momentum, and the price was forced to initiate a pullback. It is now at 0.00001880 and is very close to testing the EMA 50 moving average support. It is possible that we will also get support at the current level because we see a stop of the previous bearish impulse. If the pullback continues, the price goes down to the weekly open price of 0.00001765.
Potential lower targets are the 0.00001750 and 0.00001700 levels. Additional major support is in the 200 EMA at the 0.00001715 zone. For a bullish option, we need a new positive consolidation and a return above the 0.00001950 level. With that, we return to the positive side above the daily open price. After that, we can expect to start a new recovery at higher levels. Potential higher targets are 0.00002000 and 0.00002050 levels.
