Recently, people have been paying special attention to the price trends of Chaigou (SHIB) and Dog Coin (DOGE). However, these two cryptocurrencies experienced a decline after encountering selling pressure at key resistance levels

Recently, people have been paying special attention to the price trends of Chaigou (SHIB) and Dog Coin (DOGE). However, these two cryptocurrencies experienced a decline after encountering selling pressure at key resistance levels.

10.3 Viewpoints

Big cake:

The structure of Da Pi 1H can be seen as running a 1H pullback. Cong OBV can see that there have been many outflows of funds during this pullback, and the amount of funds in the month on month range is slightly higher than that in the 26800-27200 range. However, if the difference is not significant, the current situation should be short-term support to see if the subsequent rebound will cross the yellow pressure line, If the yellow pressure line cannot pass, then it may be necessary to follow the trend shown in the figure, following a 1H downward trend.

The structure of the Big Pancake 15F is currently only running the first decline of the 15F, but it follows a downward channel. Usually, the probability of an upward breakthrough in this channel is high, but it is only limited to breakthroughs. How high it can be depends on the strength of the market. The current short-term pressure is in the range of 27800-28000.

Aunt:

The structure of Yitai 1H is currently similar to that of a pancake, but it is also a short-term funding problem. The stock of funds has returned to around the 1650 price, and currently it has gained short-term support. Let's see if we can make a rebound, rebound to around the yellow pressure, and then see how strong the next move is.

The BTC price encountered resistance at $285000 and fell towards the critical $28000 level. Similarly, the meme coin industry also faces challenges. As sellers seek opportunities from soaring prices, top memes, dog coins, and Chaigou are currently experiencing a slight decline near their resistance points.

Recently, people have been paying special attention to the price trends of Chaigou (SHIB) and Dog Coin (DOGE). However, these two cryptocurrencies experienced a decline after encountering selling pressure at key resistance levels.

As a decentralized cryptocurrency, Chaigou (SHIB) has attracted a large number of investors. However, after the recent price increase, Chaigou (SHIB) has also encountered selling pressure, leading to a price correction.

At the same time, as a blockchain digital currency, DOGE has been highly regarded due to the promotion of well-known figures such as ElonMusk. However, with the recent changes in market sentiment, the price of Dog Coin (DOGE) has also been under selling pressure at resistance levels, leading to a downward trend.

This situation has sparked widespread discussion in the market. Some people believe that as cryptocurrencies for more risky investments, Chaigou (SHIB) and Dogcoin (DOGE) have significant price fluctuations and require investors to maintain a cautious attitude. On the other hand, some people believe that this downward trend may only be a short-term adjustment, and there are still opportunities for upward growth in the future.

In the past 24 hours, the performance of Gougou Coin and Chaigou has been strong. After Bitcoin surged to over $28000, traders shifted their attention to memes, resulting in a significant increase in market trading volume. However, the buying pressure is short-lived, as Coinglas' data shows that Dogcoin's long position worth $400000 has been liquidated, while SHIB has experienced a long position liquidation of $35000. This means that investors are profiting from recent gains.

Price Analysis of Dogcoin (DOGE)

In recent hours, the price trend of dog coins has become bearish as it has failed to break through the $0.065 level. Therefore, the seller has opened a short position, and the DOGE price is currently in a downward adjustment state, hovering near the EMA20 trend line. As of the writing of this article, the trading price of DOGE was $0.0626, which has surged by over 1.09% in the past 24 hours.

The 20-day moving average is at $0.062 and seems to be stabilizing, while RSI has decreased and hovered above the midpoint, indicating a balance between buyers and sellers. Buyers' strong rebound above the 20 day moving average may mark the beginning of a new trend, and the price of DOGE may target a direct resistance level of $0.065 and then $0.07.

As a cryptocurrency, Dogcoin has attracted widespread attention in the market in recent years. This article will analyze the price of dog coins to help readers understand their market performance and potential investment opportunities.

Firstly, the price of dog coins is influenced by the supply and demand relationship in the market. Due to its lower price, Dogcoin has attracted the attention of a large number of retail and novice investors. This increase in demand can enhance prices and lead to short-term price fluctuations.

Secondly, the price of dog coins is also influenced by market sentiment and speculative behavior. Due to the widespread discussion and hype on social media, the price of Dogcoin may be manipulated by speculators. In this case, price fluctuations may be severe and unpredictable, and caution should be taken.

In addition, the price of Dogcoin is also influenced by the entire cryptocurrency market. If the entire market is in a bull market, the price of dog coins may be driven; On the contrary, if the entire market is in a bear market, the price of dog coins may be suppressed.

The price of dog coins may be influenced by policies and regulations. If relevant countries or regions adjust their regulatory policies for cryptocurrencies, the price of Dogcoin may be affected. Therefore, investors need to closely monitor relevant policy trends.

On the contrary, in order to counter this upward trend, bears need to quickly pull their prices below $0.059. If they succeed, the Meme coin may fall to the next important support level of $0.055.

Price Analysis of Chaigou (SHIB)

Today, there was strong buying in SHIB prices, reaching a high of $0.0000076. However, bears quickly intervened, leading to a sharp decline in the meme currency. Therefore, the price of SHIB fell below the 23.6% Fib channel and hit the bottom of EMA100, beginning a slight rebound. This indicates that buyers are taking advantage of the opportunity of price decline. At present, the price of SHIB is $0.00000742, an increase of over 0.55% compared to yesterday.

Chaigou (SHIB) is a digital currency that has received widespread attention in recent years. Before analyzing the price of firewood dogs, we need to understand some basic information. Chaigou is a decentralized cryptocurrency project aimed at providing a simple, accessible, and potential investment option.

Firstly, the price of Chaigou fluctuates significantly, influenced by market supply and demand and investor sentiment. According to past data, the price of Chaigou may experience sharp fluctuations in the short term, so investors need to be cautious.

Secondly, the price of firewood dogs is influenced by market liquidity. When the number of firewood dogs available for trading in the market increases, prices may fall; When supply decreases, prices may rise. In addition, the trading volume in the market can also have an impact on prices.

As a relatively new digital currency, the price of Chaigou is also influenced by the market's optimism about its potential application and development prospects. If Chaigou can achieve success in practical applications and attract more users and investors, its price may rise.

The extended shadow on the candlestick indicates a bearish sell off near the 38.2% Fibonacci retracement level of $0.0000076. However, from a bullish perspective, prices remain above immediate support levels.

In order to further increase, buyers need to push the price above the key price level of $0.0000078, paving the way for possible retesting of the resistance level of $0.0000085.

The RSI level has decreased from the overbought area and is currently maintaining a trend above the median line of 50, indicating a rebound in SHIB prices. If the price of SHIB falls and fails to rebound from $0.0000071, it will trigger a strong bearish rebound, reaching $0.0000064.

Overall, the price analysis of Chaigou requires comprehensive consideration of multiple factors. Investors should remain cautious and make decisions based on their risk tolerance and investment goals. Before making any investment, it is recommended that you carefully study and evaluate relevant information and seek professional advice. Please remember that the digital currency market is highly risky, and past price trends cannot guarantee future performance.