Connect with us

Plato Vertical Search

Blockchain

Shiba Inu And Dogecoin Price Analysis: Coins Display A Death Cross; Next Crucial Price Levels

Shiba Inu And Dogecoin Price Analysis: Coins Display A Death Cross; Next Crucial Price Levels

Meme-coins Dogecoin and Shiba Inu have been struggling on their charts over the last few days. These coins have mainly remained consolidated with minor gains or losses in the previous few days.
Dogecoin had returned 2.2% in terms of its ROI over the past week, while SHIB rose about 6%. Dogecoin oscillated between its immediate resistance and support of $0.193 and $0.170, respectively, while Shiba Inu tried to break above the $0.000040 mark.

DOGE/USD Four Hour Chart

Shiba Inu And Dogecoin Price Analysis: Coins Display A Death Cross; Next Crucial Price Levels

Dogecoin was priced at $0.1703, and over the last 24 hours, the meme-coin lost 3.4% of its value. It had displayed a death cross formation over the week, following which the coin would embark on the bearish run.

The immediate support level for the coin stood at $0.170, and at Dogecoin’s current price momentum, the coin would soon move below the support above level. The other price floor stood at $0.155. Near Term Technicals also point towards a bearish price run.

The price of DOGE was below the 20-SMA, which indicated that sellers dominated the price action in the market. In correspondence with the same, the Relative Strength Index was seen below the half-line, near the oversold and undervalued mark as traders have decided to cash out.

The Average Directional Index stated that the market trend was developing strength which signaled a continued bearish price movement.

SHIB/USD Four Hour Chart

Shiba Inu And Dogecoin Price Analysis: Coins Display A Death Cross; Next Crucial Price Levels

The meme-coin displayed mundane price action as the price action remained sandwiched between the $0.000039 and $0.000034 respectively. Shiba Inu was trading for $0.000034 after depreciating by 4.4% overnight. This fall in prices came after sellers took over the market.

Shiba Inu had formed a death cross, as a reason, the coin displayed southward price action in the past 24 hours.

The immediate price support level rested at $0.000028. If the coin breaks above the $0.000039 level, SHIB could target $0.000044, although that is quite unlikely given the readings from the indicators.

The Relative Strength Index was about to touch the oversold region, selling pressure mounted at the time of writing. The price of SHIB was below the 20-SMA, which meant that sellers regained strength. Awesome Oscillator flashed red signal bars in accordance with the bears in the market.

The post Shiba Inu And Dogecoin Price Analysis: Coins Display A Death Cross; Next Crucial Price Levels appeared first on CoinGape.

Advertisement. Scroll to continue reading.
Shiba Inu And Dogecoin Price Analysis: Coins Display A Death Cross; Next Crucial Price Levels Blockchain, Featured, Home, News CoinGenius Hosts Virtual Crypto Event The Road To Mass Adoption

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.

Click here to access.

Source: https://coingape.com/shiba-inu-and-dogecoin-price-analysis-coins-display-a-death-cross-next-crucial-price-levels/

Advertisement

Latest Blockchain Streams

Blockchain

Bullish GRT price prediction is $0.7922 to $1.67. GRT price might also reach $2 soon. GRT bearish market price prediction The post has appeared...

Blockchain

For years now, some investors have preferred to hold their wealth in cryptocurrencies like bitcoin and ethereum as opposed to cash. As cryptocurrencies become...

Blockchain

Seattle, United States, 18th January, 2022, Chainwire Stably, a US venture-backed stablecoin and asset tokenization infrastructure provider, announced it has The post has appeared...

Blockchain

London, United Kingdom, 18th January, 2022, Chainwire PKT Cash is the next iteration of a truly influence-free internet. Large corporations, The post has appeared...