SHIB and DOGE fell under market-wide selling pressure. We have compiled the current price predictions of analysts for Kriptokoin.com readers.
Dogecoin price needs to clear the $0.163 resistance
Since November 30, 2021, Dogecoin has registered four HL levels, keeping a large amount of liquidity above $0.215. Using a trendline to consolidate these higher swings reveals a coinciding resistance level with the weekly resistance at $0.163. As a result, breaking this hurdle is critical for DOGE to continue on its upward path.
Dogecoin price will target $0.194 which represents an 18% increase if it can turn this ceiling into a support. In cases, according to analyst Akash Girimath, DOGE could extend the rally to $0.215 and catch up with the liquidity accumulated above it. This setup will bring total gains to 31% and the meme coin’s rise can be expected to be limited. On the other hand, while the price is currently low, failing to pass the $0.163 consolidation will mean the buyer is weak. DOGE is expected to drop to $0.129 as a result of this decision. A close below this resistance on a four-hour candlestick will result in a lower low and invalidate the bullish argument. According to the analyst, breaching Doge’s last layer of protection could be fatal as it could result in a drop below $0.08. On the
Shiba Inu (SHIB) technical analysis
12-hour chart, the Shiba Inu is up 44% to $0.00005336, forming a head-to-shoulder reverse pattern. The 200 hourly SMA at $0.00003384 is the first resistance, followed by the 78.6% Fibonacci retracement level at $0.00003468. SHIB could cut the neckline of the pattern at $0.00003628 if the buying pressure continues to build. On the other hand, if the Shiba Inu breaks above this neckline, it could reach the bullish projection of $0.00005336. Additional headwinds could be the December 27 high of $0.00003949 followed by the 127.2% Fibonacci level of $0.00004560. If Shiba Inu price breaks above the November 20 high of $0.0005000, SHIB could hit its bullish target of $0.00005336, which coincides with the 161.8 percent Fibonacci extension level.
If selling pressure builds, the first line of defense is $0.00000391, according to analyst Sarah Tran. SHIB will find support at the 50% retracement level at $0.00002826, which coincides with the 100 twelve-hour SMA. However, if the price falls below this level, the optimistic view is broken. On the other hand, if sell orders rise, it could drop to the 50 twelve-hour SMA at $0.0002561, which coincides with the 38.2% Fibonacci retracement level. If the bearish sentiment picks up, SHIB could decline below the 23.6% Fibonacci retracement level of $0.0002233.
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