Technical Analysis June 1: DOGE, SHIB

DOGE technical analysis

The bulls are struggling to maintain Dogecoin (DOGE) above the moving averages, which shows that the bears are selling after every small recovery.

If the price slips below the 50-day SMA ($0.15), the DOGE/USDT pair can drop to $0.14. This level could act as a floor, but if broken, the slide could extend to the critical support at $0.12.

Additionally, if the price rebounds from $0.14, it will signal demand at lower levels. The pair could then consolidate between $0.14 and $0.18 for a while. A breakout and close above $0.18 would open the door for a rally to $0.21.

SHIB technical analysis

The Shiba Inu (SHIB) bulls' failure to push the price above the $0.000030 resistance led to a pullback to the 20-day EMA ($0.000025).

If the price rebounds from the moving averages, the bulls will again attempt to push the SHIB/USDT pair above $0.000030. If they do that, the pair could rise to $0.000033 and then $0.000039.

Conversely, if the price continues to decline and breaks below the support line, it will signal that the bears are trying to make a comeback. The pair could then drop to $0.000018, where buyers are likely to jump in.