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DOGE and SHIB Price Analysis for September 20

Tue, 09/20/2022 - 16:10
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Denys Serhiichuk
Have meme coins found local bottom yet?
DOGE and SHIB Price Analysis for September 20
Cover image via www.tradingview.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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The cryptocurrency market is trying to return to the bullish trend, according to CoinMarketCap.

Top coins by CoinMarketCap

DOGE/USD

DOGE has not followed the drop of Bitcoin (BTC), rising by 1.73%.

DOGE/USD chart byTradingView

Despite the slight rise of DOGE, the price remains trading near the support level at $0.05737, which means it is too early to think about a reversal. Thus, the buyers' weakness is also confirmed by the low volume.

Related
Ethereum (ETH) Price Analysis for September 19

All in all, the price should get back to the $0.064 zone for an upward move. Only in that case can the long scenario be possible.

DOGE is trading at $0.0589 at press time.

SHIB/USD

Unlike DOGE, the price of SHIB has dropped by 1.76% over the last day.

SHIB/USD chart by TradingView

According to the daily chart, bears seem unlikely to give up as the price is slowly approaching the support level at $0.00001029. If the daily candle closes below the $0.00001050 mark, there are high chances to see a sharp drop to the $0.0000095 zone.

SHIB is trading at $0.00001076 at press time.

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About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at denys.serhiichuk@u.today.