The post Memecoins Lose Momentum: Dogecoin (DOGE) and Shiba Inu (SHIB) Prices Plunge Aiming to Hit the Lower Support appeared first on Coinpedia Fintech News

Memecoins의 모멘텀 상실 게시물: Dogecoin(DOGE) 및 Shiba Inu(SHIB) 가격 급락, 낮은 지지율 목표로 Coinpedia Fintech News에 처음 등장

While Bitcoin started the week with a fine consolidation that it carried out throughout the weekend. Besides, the altcoins continue to suffer and have been corrected majorly, displaying the impending bearish actions. Among them are the popular memecoins Dogecoin and Shiba Inu which have been registered as the biggest losers for the day. When the Bitcoin price remains stuck around $27,800, will these tokens test the lower support?

Dogecoin (DOGE) Price Analysis

Dogecoin has pulled a fresh leg down and is testing the pivotal support zone between $0.567 and $0.571 for the third time in 2023. The DOGE price has been trading within a descending triangle ever since it faced a huge rejection in the last quarter of 2022. Now that the price is approaching the apex of the bearish pattern, the possibility of a major price action appears imminent. 

Dogecoin은 새로운 발걸음을 내딛고 2023년에 세 번째로 $0.567에서 $0.571 사이의 중추적인 지지 영역을 테스트하고 있습니다. DOGE 가격은 2022년 4분기에 엄청난 거부에 직면한 이후로 하락 삼각형 내에서 거래되고 있습니다. 가격이 약세 패턴의 정점에 접근하고 있다는 점에서 주요 가격 조치 가능성이 임박해 보입니다.

Although the technicals do not point towards a bullish reversal, the bulls appear to be gaining some strength. The average directional index (ADX), which is used to determine the strength of the trend, is trying to rebound from its interim lows. It indicates the rally is closer to gaining momentum and may trigger a rebound in the next few hours. Now that the price has reached the liquidity zone, a greater possibility of a trend reversal could be witnessed soon and reach beyond $0.6.

Shiba Inu (SHIB) Price Analysis

시바견(SHIB) 가격 분석

Being distinct from the majority of the crypto market, the Shiba Inu price has been maintaining a descending trend since the beginning of the year. The price has been trading within a falling wedge, which suggests a bearish narrative in the long term. However, strong support at $0.00000648 could hinder the descending trend. 

In the coming days, the price is believed to maintain a steep descending trend and test the lower support close to $0.0000065 or below. As the RSI has already reached oversold levels, a flip in these levels may eventually trigger a notable rebound in the SHIB price. As the trade progresses towards the monthly close, a larger possibility of surging above the upper resistance could be pivotal, reaching levels close to $0.000008.

앞으로 며칠 동안 가격은 가파른 하락 추세를 유지하고 $0.0000065 이하에 가까운 낮은 지지를 테스트할 것으로 믿어집니다. RSI가 이미 과매도 수준에 도달했기 때문에 이러한 수준이 반전되면 결국 SHIB 가격이 눈에 띄게 반등할 수 있습니다. 거래가 월간 마감을 향해 진행됨에 따라 상한 저항선 위로 급등할 가능성이 더 커져 $0.000008에 가까운 수준에 도달할 수 있습니다.