SHIB and DOGE Price Analysis for April 7


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Most of the coins keep going down, except for Binance Coin (BNB), whose rate has increased by 0.95%.

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Top 10 coins by CoinMarketCap
Top coins by CoinMarketCap

DOGE/USD

DOGE has faced a big price drop since yesterday as its rate has declined by 4%.

DOGE/USD chart byTradingView
DOGE/USD chart by TradingView

DOGE has come back below the $0.1537 mark, which means that bulls have lost their initiative. The fall has been accompanied by increased trading volume. In this regard, if the daily candle fixes below $0.15, there is a high possibility to see a further decrease to the middle of the channel around $0.1251. Such a scenario is relevant for the next few weeks.

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DOGE is trading at $0.1422 at press time.

SHIB/USD

SHIB has faced much less decline with a drop of 1.77% over the last 24 hours.

SHIB/USD chart by TradingView
SHIB/USD chart by TradingView

From the technical point of view, SHIB is trading in the middle of the wide channel between the support at $0.00001695 and the resistance at $0.00003523. At the moment, neither bulls nor bears are dominating, which means that continued sideways trading is the more likely scenario for the upcoming days.

SHIB is trading at $0.00002454 at press time.


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