New Delhi: Elon Musk’s favorite cryptocurrency Dogecoin has gained almost 15% during Monday’s sessions but half of that gain has been retracted. Investors showed some resilience to maintain a stable buying range around $0.25.
As per analysts, DOGE has 2 primary resistance levels and it has to close above the daily chart if it wants to carry on the present upward momentum.
1) Weekly Tenkan-Sen and 61.8% Fibonacci retracement at the price level of $0.26
2) The top of daily cloud at $0.27
Both bulls and bears will really want to observe the DOGE’s price as the trading candle turns down. If bulls got the momentum to close the DOGE’s price below the daily Cloud then may there is a chance that buyers will be knocked down. Many investors will be feeling stuck as the price moves lower.
The critical zone to watch will be 38.2% Fibonacci retracement at $0.23.
Shiba Inu looks to retest $0.000022
SHIB’s price has maintained the momentum to keep the green indexes as Dogecoin killer Shiba Inu gained almost 350% since October 2021. Shiba Inu is still up by 280% despite the recent pullbacks.
As per analysts, there is a chance to dip lower as the coin will have to face some strong resistance area at $0.000028. This price level will be the first blockade in the way to take SHIB to the new high and close below this level can trigger a downward trend.
The only support price level below this is $0.000022 which comes under the value area with the 61.8% Fibonacci retracement. As per experts, this can be the support area that Shiba Ine requires right now to find more buyers. The price level of $0.000024 can also play a short-term support area.
