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The weekend has started with a further decline on the cryptocurrency market.
DOGE/USD
DOGE is an exception, going up by 1.21% over the last 24 hours.
On the daily chart, traders should pay close attention to the resistance level at $0.9461. If the bar closes above it, the accumulated strength might be enough for a rise to the next zone around $0.11, where buyers may face bears' pressure.
Denys SerhiichukIn addition, an upward move can happen as the selling volume has declined.
DOGE is trading at $0.8923 at press time.
SHIB/USD
Unlike DOGE, SHIB is in a bearish cycle despite the recent bullish candle. The meme coin's price has fallen by almost 6% since yesterday.
On the daily time frame, SHIB could not fix above the $0.00001 mark, which is a bearish midterm signal. If the decline continues to the support level at $0.00000924, the breakout may initiate a sharp drop to the $0.000008 area by the end of the month.
SHIB is trading at $0.00000957 at press time.
Alex Dovbnya
Vladislav Sopov
Dan Burgin
U.Today Editorial Team