In This Article:
Key Insights:
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It was a bearish session for DOGE and SHIB on Saturday.
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The pair gave up early gains, with a lack of crypto news leading to a late pullback from early gains.
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Key technical indicators remain bullish, with DOGE and SHIB holding at the 50-day EMAs.
It was a bearish day for DOGE and SHIB on Saturday.
On a mixed crypto session on Saturday, DOGE and SHIB gave up early gains to end the day in the red. Saturday’s losses were modest, with no news updates to provide direction.
Partially reversing a 2.32% gain from Friday, DOGE fell by 1.77% on Saturday to end the day at $0.1388. SHIB partially reversed a 1.12% rise, with a 0.80% loss to end the day at $0.00002594.
Elsewhere, LUNA surged by 8.84% to buck the broader crypto market trend.
BNB (-2.37%) and SOL (-1.52%) struggled on Saturday.
AVAX (-0.79%), ADA (-0.86%), ETH (-0.32%), and XRP (-0.50%) saw modest losses to also join BTC (-1.03%), DOGE, and SHIB in the red.
Crypto Market Flatlines with No Major News to Influence
It was a quiet day on the crypto news wires, leaving the broader market in the red by the day end.
The lack of direction followed a Friday partial recovery of losses from Thursday. Regulatory risk remains a consideration for the crypto market. This week, the headline news was the EU parliamentary vote to introduce KYC for private wallets.
DOGE Price Action
At the time of writing, DOGE was up 0.79% to $0.1399.
Technical Indicators
DOGE will need to move through the day’s $0.1404 pivot to make a run on the First Major Resistance Level at $0.1428. DOGE would need the broader crypto market to support a move back through $0.1420 levels.
An extended rally would test the Second Major Resistance Level at $0.1467 and resistance at $0.15. The Third Major Resistance Level sits at $0.1530.
Failure to move through the pivot would test the First Major Support Level at $0.1365. Barring an extended sell-off, DOGE should steer clear of sub-$0.1350 levels. The Second Major Support Level sits at $0.1341.
Looking at the EMAs and the 4-hourly candlestick chart (below), it is a bullish signal. DOGE sits at the 50-day EMA, currently at $0.1395. This morning, 50-day EMA narrowed to the 100-day EMA. The 100-day EMA pulled away from the 200-day EMA after this week’s bullish cross; DOGE positive.
A breakout from the 50-day EMA would support a move back through to $0.1450.
SHIB Price Action
At the time of writing, SHIB was up by 0.46% to $0.00002606.
Technical Indicators
SHIB will need to move through the day’s $0.0000264 pivot to make a run on the First Major Resistance Level at $0.0000270. SHIB would need the broader crypto market to break out from $0.0000265.