Price Analysis

After 20% Shiba INU (SHIB) Price Rally, Will Dogecoin (DOGE) Manage to Jump by Atleast 12%?

Written by: Sahana Vibhute

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Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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Apr 14, 2022

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Highlights

    Shiba INU after a gigantic rally is now relaxing a bit, but within the gained levels and refusing to plunge down closer to their initial levels

    On the other hand, Dogecoin still remains away from the current market trend and hence struggles to rise by another 5% to surpass the immediate resistance

Dogecoin (DOGE) Price Analysis

Dogecoin price is showcasing a huge potential to mark a 20% upswing but only when the asset bounces off some mandatory levels. No doubt the price is currently on its path toward the monthly highs, yet the barrier around $0.1448 needs to be completely stabilized. However, in the daily frame, the bears are trying hard to push the price below the pivotal levels. And hence surpassing these levels may not be an easy task for the DOGE price.

The price is feeling a huge bearish pressure it’s consolidating just below the important zones in the small time frame. However, it’s maintaining a significant ascending range that may help to gain levels beyond $1.46 in STF. Yet the main concern lies within the volume which is pretty much depleted and that could hinder the DOGE price seal off the day’s trade above the danger zone. 

Shiba INU(SHIB) Price Analysis

Shiba INU’s price after a recent upswing is consolidating in between the local resistance and support levels. The volume also has plunged heavily which may impact the volatility to a larger extent in the upcoming hours. Therefore, one can expect a heavy consolidation until the day’s close. As no significant trend reversal may be recorded in the due course. 

As seen in the chart, the SHIB price is swinging within the immediate resistance at $0.00002750 and support at $0.00002545, ever since it faced rejection at $0.00002769. With the continued volatility no significant price movements may be captured. Else if the price breaks through the symmetrical triangle achieving $0.000032850 may not be a big deal. However, maintaining the uptrend, the price could also reach $0.00003 to validate a strong uptrend ahead. 

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Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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