Key ideas:
- It was a bullish session for DOGE and SHIB on Saturday.
- The broader crypto market sentiment provided support.
- Key technical indicators are bullish with DOGE holding above the 50 day EMA and SHIB holding above the 200 day EMA.
It was a bullish day for DOGE and SHIB on Saturday. Bullish sentiment in the broader crypto market-delivered support.
Partially reversing a 4.31% loss on Friday, DOGE was up 3.97% to end the day at $0.1361. SHIB partially reversed a 2.27% loss on Friday, with a 1.33% gain to end the day at $0.00002444.
Elsewhere, THERE ARE rallied 5.10% to lead the way, with AVAX (+2.95%) and SUN (+3.18%) finding strong support.
MOON (+1.56%), and XRP (+1.02%), bnb (+1.39%) and ETH (+1.36%) saw modest gains.
Crypto Market Risk Sentiment Support
There were no major news headlines to lend support to the broader crypto market on Saturday.
of bitcoins (BTC) gradual pullback towards the $45,000 levels provided broader support to the crypto market. On Saturday, BTC was up 0.77% to end the day at $44,536.
DOGE Share Price
At the time of writing, DOGE is up 0.88% to $0.1373. A bullish start to the day saw DOGE test the first major resistance level at $0.1390 โโbefore pulling back.
technical indicators
DOGE will have to avoid $0.1341 on the day pivot to make another run at the first major resistance level at $0.1390. DOGE would need the broader crypto market to support a move back to $0.1380.
A prolonged rally would test the second major resistance level at $0.1420. The third major resistance level is located at $0.1499.
A drop through the pivot would test the first major support level at $0.1311. Barring a sell-off, DOGE should stay away from levels below $0.1300. The second major support level is located at $0.1262.
looking at the Gold and the 4 hour candlestick chart (below) is a bullish sign. DOGE is above the 50-day EMA, currently at $0.1283. This morning the 50 day EMA turned away from the 200 day EMA. The 100 day EMA was close to the 200 day EMA; DOGO positive.
A bullish crossover of the 100 day EMA through the 200 day EMA would support a return to $0.15.
SHIB Price Action
At the time of writing, SHIB is up 0.90% to $0.00002466. A bullish start to the day saw SHIB test the first major resistance level at $0.0000248 before pulling back.
technical indicators
SHIB should avoid the $0.0000244 of the day pivot to make another run at the first major resistance level at $0.0000248. SHIB would need the broader crypto market to break above the morning high of $0.00002478.
A prolonged rally would test the second major resistance level at $0.0000252. The third major resistance level is located at $0.0000261.
A drop through the pivot would bring the first major support level at $0.0000240 into play. Barring a sell-off, SHIB should stay away from levels below $0.0000230. The second major support level at $0.0000235 should cap the downside.
looking at the Gold and the 4 hour candlestick chart (below) is a bullish sign. SHIB is trading above the 200-day EMA at $0.0000241. This morning, the 50 day EMA turned down to the 200 day EMA. The 100 day EMA was also close to the 200 day EMA.
A bullish crossover of the 50 day EMA through the 200 day EMA would bring levels of $0.000026 into play.
