The Dogecoin price has been traded within an extended descending trend for more than 18 months now. After constantly testing the lower support, the price has approached the last point of defense, beyond which the asset may gain another zero in its value. However, minor chances of a rebound persist but await confirmation.
According to the graph, the price of Dogecoin right now is $0.05. If the prices manages to rebound, it may reach the first resistance level at the EMA-20 at $0.07. Once the price tests & clears these levels,it may surge to $0.09 which is the next resistance.
On the darker side, if bears are actively seeking to push the price back down below $0.05, a decrease in price to $0.04 is anticipated. If the downward trend persists, prices could fall as low as $0.01.
However, a positive divergence in the RSI could be noticed, indicating less selling pressure. As a result, it is possible that the prices will increase above $0.09 and reach the 50-week SMA ($0.13).
The MATIC is currently trading at $0.76 raising from $0.31. It rose swiftly and crossed above the 20-week EMA ($0.87), but buyers could not sustain the rebound. As a result, the bears stopped the recovery rally and dragged the price back down to the 20-week EMA from the levels above $1.
Further, the bears refused to give up despite the bulls’ efforts to raise and hold the price above the 20- EMA. Quick sales were executed, which caused the price to drop below $0.72, which is the nearest support level. The MATIC/USDT pair may drop below $0.45 and eventually $0.31 if this support fails to hold.
In contrast, the MATIC/USDT pair can attempt to break through the overhead barrier at $1.05. This would happen if prices surge from the current level and break through the 20-week EMA ($0.87). If the price rises to the 50-week SMA at $1.31 and stays there, it may finally reach $1.75, signaling the conclusion of a downturn.
Shiba INU (SHIB/USDT)
The 20-EMA ($0.000013) was decisively surpassed by Shiba Inu, which is currently trading at $0.000010. A bear trend began after the breakout as the price dropped from $0.000018 and fell below $0.000013.
The bulls have prevented prices from dropping below $0.00007 despite the price trading below these levels. This suggests that buyers are making an effort to create a higher low.
The price will surge to $0.000018 if it breaks through and closes above $0.00013, signaling strength. A probable trend change may be signaled if the prices surge above this resistance. After that, the SHIB/USDT pair may soar above $0.00030.
This optimistic assessment may prove to be erroneous, causing the pair to decline towards $0.00005 if the price continues to fall and breaks $0.000007.
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