Dogecoin price action
On Friday, Dogecoin woke up and broke out of a descending triangle bullishly. The cryptocurrency had been struggling to make a move, but technical traders may have predicted it when Dogecoin failed to break through the important support level of $0.196.
Dogecoin was able to break over resistance at the eight-day exponential moving average (EMA) as it moved closer to the 21-day EMA thanks to the bullish trend. If Dogecoin can reclaim and maintain the 21-day EMA as support, the eight-day EMA will eventually cross back above the 21-day, signalling a bullish trend.
Bulls hope to see sustained large bullish volume push Dogecoin over the 21-day EMA and up to the 23-cent resistance level. If the cryptocurrency can reclaim the level as support, it has the potential to rise to 26 cents.
Whereas bears want to see a large amount of bearish volume come in, pushing Dogecoin back to its crucial support level below. If Dogecoin loses support at this level, it may backtrack toward the 16-cent mark.
Shiba Inu price action
In the recent several days, Shiba Inu has made some gains, breaking through the bearish pennant shape. Due to the creation of repeated losses, SHIB’s consolidation has narrowed and the overall trend presently appears to be bullish.
Since September 28, when it saw the $0.00000768 price support level, which SHIB bulls failed to pass, Shiba Inu’s price has risen about 10%. Bulls are currently pointing to the commencement of a retracement.
Traders might expect SHIB to break past the barrier and move upwards if the crypto market remains positive, as it was yesterday. If this doesn’t work out, a pullback to $0.00000684 is possible.
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