Key ideas:
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It was a bearish session for DOGE and SHIB on Friday in what has become a busy week.
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The losses were modest relative to the broader crypto market.
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Technical indicators remain bearish for SHIB while DOGE is at the 100 day EMA.
It was a down day for DOGE Y SHIB on Friday.
Bearish sentiment in the broader crypto market returned after a brief respite on Thursday, hitting DOGE and SHIB.
Reversing a 1.81% gain from Thursday, DOGE fell 2.33% to end the day at $0.1426. SHIB reversed a 1.85% gain with a 3.99% loss to end the day at $0.00002381.
Elsewhere, MOON fell 9.5%, with SUN slipping 7.2% to push the broader market into the red. bitcoin (BTC) ended the day down 2.8%.
Bearish Sentiment Returns With Bitcoin (BTC) Leading Majors
Bitcoin (BTC) and the broader crypto market followed the NASDAQ 100 into the red. The market's nervousness about the Fed's monetary policy returned after Wednesday's market defeat. Bitcoin dipped below $43,000 again to pressure investor appetite. The NASDAQ 100 fell 1.34% on Friday.
FOMC meeting minutes revealed it plans to reduce the Fed's bond holdings by about $95 billion each month. Balance sheet reduction plans and a likely path of aggressive interest rates have spooked markets.
a tesla cyber rodeo The party had delivered DOGE's support before DOGE succumbed to market forces. According reportsa drone show creating a Dogecoin in the sky created quite a stir in the market earlier in the session.
DOGE Share Price
As of this writing, DOGE is down 0.07% at $0.1425.
technical indicators
DOGE will have to move through $0.1455 on the day pivot to make a run at the first major resistance level at $0.1505. DOGE would need the broader crypto market to support a return to $0.15.
A prolonged rally would test the second major resistance level at $0.1583. The third major resistance level is located at $0.1711.
If it fails to move through the pivot, the first major support level at $0.1377 would be tested. Barring another prolonged sell-off, DOGE should stay away from levels below $0.1350. The second major support level lies at $0.1327.
looking at the Prayed and the 4 hour candlestick chart (below) is a bullish sign. DOGE is at the 100-day EMA, currently at $0.1421. This morning, the 50 day EMA turned down to the 100 day EMA. The 100 day EMA turned away from the 200 day EMA; DOGO positive.
A trade through the 50 day EMA, currently at $0.1463, would support a return to $0.15.
SHIB Price Action
At the time of writing, SHIB is up 0.59% to $0.00002395.
technical indicators
SHIB will need to move through $0.0000242 on the day pivot to make a run at the first major resistance level at $0.0000248. SHIB would need the broader crypto market to return to the $0.0000245 levels.
A prolonged rally would test the second major resistance level at $0.0000258 and resistance at $0.000026. The third major resistance level is located at $0.0000275.
If it fails to move through the pivot, the first major support level at $0.0000232 would come into play. Barring another sell-off, SHIB should stay away from levels below $0.0000230. The second major support level is located at $0.0000225.
looking at the Prayed and the 4 hour candlestick chart (below) is a bearish sign. SHIB is below the 200-day EMA at $0.0000251. This morning, the 50 day EMA turned down to the 100 day EMA. The 100 day EMA closed above the 200 day EMA, negative SHIB.
A bearish cross of the 50 day EMA through the 100 day EMA would bring major support levels into play.
East Article originally published on FX Empire
