Dogecoin (DOGE) Extends Declines as Resistance Level Holds
Dogecoin (DOGE) experienced a 3% drop on Tuesday as bearish sentiment returned to the cryptocurrency market. The meme coin failed to surpass a crucial resistance level at $0.0640, resulting in a decline to a low of $0.06163.
The downward pressure can be attributed to the relative strength index (RSI) slipping below 47.00. Currently, the RSI stands at 44.37, and if it continues to decrease, sellers could target the 40.00 mark, potentially causing DOGE to trade below $0.06000.
Shiba Inu (SHIB) Approaches Key Support Level
Alongside DOGE, shiba inu (SHIB) also saw a slight decline today as prices approached a significant support point. After reaching a high of $0.000007479, SHIB/USD dropped to $0.000007258.
The RSI for SHIB is currently just below its floor at the 43.00 mark, registering at 42.88. If this downward trend persists, it is highly likely that SHIB will reach the price floor at $0.00000710 in the coming days.
Hot Take: Dogecoin and Shiba Inu Face Resistance Levels
Dogecoin and shiba inu continue to face resistance levels that are preventing them from further upward movements in the crypto market. The failure to surpass these key levels has resulted in declines for both cryptocurrencies.
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