DOGE and SHIB Find Weekend Support to Near Weekly Highs

Key Insights:

• It was a bullish session for DOGE and SHIB on Saturday.
• Broader crypto market sentiment delivered support.
• Key technical indicators are bullish, with DOGE holding above the 50-day EMA and SHIB above the 200-day EMA.

It was a bullish day for DOGE and SHIB on Saturday. Bullish sentiment across the broader crypto market delivered support.

Partially reversing a 4.31% loss from Friday, DOGE rose by 3.97% to end the day at $0.1361. SHIB partially reversed a 2.27% loss from Friday, with a 1.33% gain to end the day at $0.00002444.

Elsewhere, ADA rallied by 5.10% to lead the way, with AVAX (+2.95%) and SOL (+3.18%) finding strong support.

LUNA (+1.56%), and XRP (+1.02%), BNB (+1.39%) and ETH (+1.36%) saw modest gains.

Crypto Market Risk Sentiment Supports

There were no major news headlines to provide the broader crypto market with support on Saturday.

Bitcoin’s (BTC) gradual move back towards $45,000 levels delivered broader crypto market support. On Saturday, BTC rose by 0.77% to end the day at $44,536.

DOGE Price Action

At the time of writing, DOGE was up 0.88% to $0.1373. A bullish start to the day saw DOGE test the First Major Resistance Level at $0.1390 before easing back.

Technical Indicators

DOGE will need to avoid the day’s $0.1341 pivot to make another run on the First Major Resistance Level at $0.1390. DOGE would need the broader crypto market to support a move back through to $0.1380.

An extended rally would test the Second Major Resistance Level at $0.1420. The Third Major Resistance Level sits at $0.1499.

A fall through the pivot would test the First Major Support Level at $0.1311. Barring an extended sell-off, DOGE should steer clear of sub-$0.1300 levels. The Second Major Support Level sits at $0.1262.

Looking at the EMAs and the 4-hourly candlestick chart (below), it is a bullish signal. DOGE sits above the 50-day EMA, currently at $0.1283. This morning, the 50-day EMA pulled away from the 200-day EMA. The 100-day EMA closed in on the 200-day EMA; DOGE positive.

A bullish cross of the 100-day EMA through the 200-day EMA would support a return to $0.15.

SHIB Price Action

At the time of writing, SHIB was up by 0.90% to $0.00002466. A bullish start to the day saw SHIB test the First Major Resistance Level at $0.0000248 before easing back.

Technical Indicators

SHIB will need to avoid the day’s $0.0000244 pivot to make another run on the First Major Resistance Level at $0.0000248. SHIB would need the broader crypto market to move through the morning high of $0.00002478.

An extended rally would test the Second Major Resistance Level at $0.0000252. The Third Major Resistance Level sits at $0.0000261.

A fall through the pivot would bring the First Major Support Level at $0.0000240 into play. Barring an extended sell-off, SHIB should steer clear of sub-$0.0000230 levels. The Second Major Support Level at $0.0000235 should limit the downside.

Looking at the EMAs and the 4-hourly candlestick chart (below), it is a bullish signal. SHIB sits above the 200-day EMA at $0.0000241. This morning, the 50-day EMA narrowed to the 200-day EMA. The 100-day EMA also closed in on the 200-day EMA.

A bullish cross of the 50-day EMA through the 200-day EMA would bring $0.000026 levels into play.