However, when DOGE came up against the second major resistance level (R2) at $0.1052, DOGE fell back to $0.1023 before ending the day at $0.1042. R1 provided support in the afternoon.
The Shiba Inu (SHIB) coin was up 1.74% on Sunday. After reversing a loss of 1.29% from last Saturday, SHIB ended the week up 0.97%, at $0.00000936.
Tracking DOGE, SHIB fell to an early morning low of $0.00000918. Avoiding the first major support level (S1) at $0.00000907, SHIB rose to a late high of $0.00000939. However, when SHIB failed to reach the first major resistance level (R1) at $0.00000941, SHIB stock pulled back to end the day at $0.00000936.
After a bearish session on Saturday, bearish buyers returned on Sunday, providing a bullish end to a volatile week.
US economic indicators and Fed Chair Powell’s comments left investors uncertain about the prospect of a central Fed meeting in December. While the Fed Chairman talked about the slowing pace of rate hikes, inflation remained high, and the US jobs report showed a sharp increase in wage growth and a significant increase in non-farm payrolls.
However, the ISM Manufacturing PMI raised fears of a recession in the US to test buyer appetite.
Today, the US economy will be back in the spotlight, with the release of Factory Orders and ISM Non-Manufacturing PMI. Expect the ISM report to have the biggest impact. A decline in the US services sector will drive down the NASDAQ Composite Index and the crypto market.
But updates from Twitter and Elon Musk will continue to provide guidance for DOGE and SHIB.
Dogecoin (DOGE) price action
At the time of writing, DOGE stock was up 0.48%, at $0.1047. A mixed start to the day saw the DOGE climb to an early high of $0.1051 before falling to a low of $0.1037.