Dogecoin and Shiba Inu: Shiba Inu in swing up to 0.00002940

Yesterday’s bearish Dogecoin price consolidation stopped at the 0.16200 support level. 
The Shiba Inu price is currently forming a new weekly high at the 0.00002940 level.

Dogecoin chart analysis

Yesterday’s bearish Dogecoin price consolidation stopped at the 0.16200 support level. After that, the price moved up to 0.16500 and returned above the EMA200, gaining its support to continue to the bullish side. Then, we looked at this morning’s consolidation around the weekly open price, 0.16620 level. Dogecoin successfully breaks that level and continues to recover to the 0.17088 level, forming a daily high there.

The price stopped at that level and is making a slight pullback below the 0.17000 level. It is very possible that we will see a drop to the EMA50 moving average in the zone of 0.16650 level. If Dogecoin manages to stabilize at the current level, it will have a chance to continue its recovery. Potential higher targets are 0.17200 and 0.17400 levels.

Shiba Inu chart analysis

The Shiba Inu price is currently forming a new weekly high at the 0.00002940 level. We bounce off that level and go down to the 0.00002860 level. We are now monitoring the strength of this momentum as we could see a deeper pullback. Potential lower targets are the 0.00002800 and 0.00002750 levels. This morning’s starting point is at the 0.00002672 level.

If Shiba Inu can hold at the current level, it opens up a bullish option. After that, the key is to initiate the continuation of the bullish consolidation above the 0.00002900 level. If we manage to achieve this, we can look forward to a potential recovery to the bullish side. This could be a hopeful sign for our investors. Potential higher targets are 0.00002950 and 0.00003000 levels.

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