DOGE and SHIB remained under pressure after Powell’s speech

Technical Indicators

SHIB needs to break out of the $0.00000120 pivot to target the first major resistance (R1) at $0.0000123 and Sunday’s high at $0.0001246.

SHIB will need a fundamental change in risk appetite to support the breakout from the morning high at $0.0001213.

In the event of a broad rally in the cryptocurrency, SHIB should test the second major resistance (R2) at $0.00000127 and the resistance at $0.000130. The third major resistance level (R3) is located at $0.000000135.

Failure to break out of the pivot leaves the first major support level (S1) at $0.0000115. Except for another intraday extended sell-off, SHIB should avoid below $0.00000110. The second major support level (S2) at $0.0000113 should act as a cap to the downside.

The third major support level (S3) is at $0.0000105.

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