Dogecoin(DOGE) Price Analysis
Dogecoin’s (DOGE) price is currently looking out to bounce off from $0.135 to $0.136 which is also a demand zone. After undergoing notable exhaustion which caused a minor correction in the early trading hours. This led to a decline to $1.33 levels from where it ignited a decent flip after it recorded a huge upswing of nearly 40% throughout the week. The accumulation in the current demand zone may however ignite a strong rally towards $1.63 and later to $1.90 in the upcoming days.
The DOGE price now appears to have swinging within the cup n handle pattern in the larger time frame. And now when it has accomplished forming a handle, it may be primed to barge in from the consolidation. The first leg up may uplift the price above $0.15 regions to test the pivotal zones just above $0.16. If sustained firmly at these levels, an upswing towards $0.19 or closer to $0.2 may be imminent. However, the ATH is pretty distinct and the asset needs to gear up at its best to at least reach halfway in April 2022.
Shiba INU(SHIB) Price Analysis
The SHIB price has also showcased a similar trend by launching a significant flip to nullify the impact of the previous day’s loss. Despite the candle being bearish, the buyers are leaving no stones unturned to mount buying pressure hence the price trend is expected to record a bullish hammer by the end of the daily close may ignite a bullish start for the next day’s trade.
SHIB’s price in the past couple of days manifested the possibility of plotting a significant uptrend beyond $0.0000300 soon. Currently, the price faced rejection at $0.00002800 from where the price experienced a significant trend reversal multiple times. And hence these levels become extremely important for the asset to decide the upcoming trend. Therefore, significant buying pressure is building and hence a strong rebound appears imminent.
Correlation Between SHIB/USDT & DOGE/USDT in the Past 30 Days
The DOGE & SHIB price underwent a similar trend ever since the beginning of March 2022. However, with a flip from the lows, DOGE price displayed a stronger bullish momentum compared to that of SHIB. And hence ranged slightly high. Moreover, during the recent price slash, the Dogecoin price halted the bearish trend much before and hence it’s 9.86% above the average levels. Whereas the SHIB price is just 4.49% above these levels, however, both are currently pointing towards the south.
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Source: https://coinpedia.org/price-analysis/dogecoin-doge-shiba-inu-shib-seem-to-be-primed-for-a-30-upswing/