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The cryptocurrency market is trying to return to the bullish trend, according to CoinMarketCap.
DOGE/USD
DOGE has not followed the drop of Bitcoin (BTC), rising by 1.73%.
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.
Denys SerhiichukAll 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.
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.
Alex Dovbnya
Dan Burgin
Vladislav Sopov