Dogecoin and Shiba Inu: Target and Prices for Thursday
The price of Dogecoin retreated to a new October low on Wednesday at the 0.10223 level
On Tuesday, Shiba Inu’s price dropped to the 0.00001560 level
Dogecoin chart analysis
The price of Dogecoin retreated to a new October low on Wednesday at the 0.10223 level. A day earlier, on Tuesday, the price encountered resistance at 0.12000 and the EMA 200 moving average. From there, a bearish consolidation was initiated and a drop below the 0.11000 level. This morning we had a slight recovery to 0.10900, but its weak momentum was enough to continue on the bullish side. We stayed below the daily open level and thus kept Dogecoin in the support zone.
A new impulse below would push the price to a new weekly low and thereby confirm the continuation of the bearish option. Potential lower targets are the 0.10000 and 0.09800 levels. For a bullish option, it is necessary for Dogecoin to return above the 0.11000 level to a new daily high. With that step, the chances of returning to the bullish side increase. Potential higher targets are 0.11200 and 0.11400 levels. We could have a big break in the EMA 200 moving average around 0.11400.
Shiba Inu chart analysis
On Tuesday, Shiba Inu’s price dropped to the 0.00001560 level. Since then, the price movement has been in the lateral channel in the 0.00001600-0.00001700 range. Emma 200 has also been on the bearish side since yesterday and is exerting pressure on the price. If we fail to move above, there will be a strengthening of the bearish momentum. Thus, we move to a new weekly low and confirm the further retreat of the Shiba Inu price.
Potential lower targets are the 0.00001500 and 0.00001400 levels. For a bullish option, we need a positive consolidation, a move above the EMA 200 moving average and 0.00001750. That step moves us to the bullish side. After that, we expect the recovery to continue and the Shiba Inu to climb to a new high. Potential higher targets are 0.00001800 and 0.00001850 levels.
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