Key ideas:
- It was a mixed day for DOGE and SHIB on Saturday, with DOGE seeing red for 3dr Consecutive day.
- Russia's continued bombardment of Ukraine left DOGE and SHIB in limited range movements.
- Key technical indicators continue to flash red, with DOGE and SHIB remaining below the 50 day EMAs.
It was a mixed day for DOGE and SHIB on Saturday. With global stock markets closed and Russia continuing its bombing campaign, it was a relatively limited session.
Following a 1.20% loss on Friday, DOGE fell 0.43% to end the day at $0.1149. SHIB partially reversed Friday's 2.56% drop with a 0.41% gain to end the day at $0.00002214.
News updates on the Russian invasion of Ukraine weighted
News updates remained negative for riskier assets on Saturday. Russia continued to bomb Ukraine into the weekend. There were also no reports of progress at the negotiating table to bring hope of an end to Russia's invasion.
DOGE Share Price
At the time of writing, DOGE is up 0.17% to $0.1151.
technical indicators
DOGE will have to move through $0.1156 on the day pivot to make a run at the first major resistance level at $0.1166. DOGE would need the broader crypto market to support a move back to $0.1160 levels.
A prolonged rally would test the second major resistance level at $0.1182 and resistance at $0.12. The third major resistance level is located at $0.1208.
If it fails to move through the pivot, the first major support level at $0.1140 would come into play. Barring a sell-off, DOGE should stay away from below $0.1140. The second major support level is located at $0.1130.
looking at the Gold and the 4 hour candlestick chart (below) is a bearish sign. DOGE remains below the 50-day EMA, currently at $0.1197. This morning, the 50 day EMA has turned back from the 100 and 200 day EMAs. The 100 day EMA has pulled back from the 200 day EMA, another bearish sign.
A trade through the 50 day EMA would support a rally to $0.12.
SHIB Price Action
At the time of writing, SHIB was flat at $0.00002214.
technical indicators
SHIB will need to move through the $0.00002230 on the day pivot to make a run at the first major resistance level at $0.0000225. SHIB would need the broader crypto market to support a breakout of $0.0000222.
A prolonged rally would test the second major resistance level at $0.0000229 and resistance at $0.000023. The third major resistance level is located at $0.0000235.
If it fails to move through the pivot, the first major support level at $0.0000219 would come into play. Barring a prolonged sell-off, SHIB should stay away from the second major support level at $0.0000217.
looking at the Gold and the 4 hour candlestick chart (below) is a bearish sign. SHIB is currently trading below the 50-day EMA at $0.0000232. This morning, the 50 day EMA pulled back from the 100 day EMA. The 100 day EMA has also pulled back from the 200 day EMA, another bearish sign.
A trade through the 50 day EMA would support a rally to $0.000023 levels.
