Dogecoin is expected to undergo a massive breakout; however, the direction is hazy
Shiba INU is closer to trigger a bearish wave that is feared to drag the price closer to the pivotal support levels
The crypto space continues to shuffle within the same narrow range that it began at a couple of days ago.
The popular cryptos like Bitcoin & Ethereum are trading close to their respective resistance levels, but are unable to break above them. Some of the altcoins that were bullish earlier appear to be sliding under the bearish influence.
However, the popular memecoins, Dogecoin and Shiba Inu are hovering within very crucial regions, where-in a breakout appears to be much required considering the current trade set up.
Dogecoin (DOGE) Price Analysis
- The Dogecoin price is ranging within a decisive symmetrical triangle, while the price is approaching the apex of the consolidation
- The price is trading above the crucial support that may keep up the hopes for a significant upswing live
- Once the price breaks the triangle, a notable upswing may be triggered to rise close to 0.3g FIB levels at $0.1, post which a rise towards 0.5 FIB may be imminent.
Shiba Inu (SHIB) Price Analysis
- The Shiba Inu price is trading within a rising parallel channel, testing the lower support of the channel
- The colume has depleted heavily and hence, the possibility of a bullish breakout is minimal but a flip form the lower support could be in line
- If the token fails to rebound, then a notable drop may be laid down that may test the 2022 bottom at around $0.00000838.