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SHIB and DOGE are falling on news of unusual Binance activity

Daniel Rogers

Dec 12, 2022 15:23

截屏2022-12-12 下午3.19.44.png 

 

On Sunday, Dogecoin (DOGE) and shiba inu coin (SHIB) followed the broader market in the red, extending three-session losing streaks. The news from Binance, investor anxieties ahead of Tuesday's US CPI Report, and Wednesday's Fed rate decision presented a gloomy background for the weekend. The technical indications are bearish, indicating that prices will continue to decline.

 

On Sunday, dogecoin (DOGE) fell 3.63 percent. Following a 0.52% drop on Saturday, DOGE closed the week at $0.0928, down 10.94%. Notably, DOGE failed to return to $0.10 for the fourth session in a row.

 

DOGE reached a morning high of $0.0972 after a bullish start to the trading day. DOGE reached a late low of $0.0916 after encountering the First Major Resistance Level (R1) at $0.0972. DOGE dropped below the day's Major Support Levels to close at $0.0928.

 

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On Sunday, Shiba inu coin (SHIB) decreased by 0.65%. Following a loss of 0.54% on Saturday, SHIB closed the week at $0.00000912, down 2.56 percent.

 

After a mixed morning, SHIB reached a high of $0.00000929 in the early afternoon. At $0.00000927, SHIB broke through the First Major Resistance Level (R1) before falling to a late low of $0.00000927. At $0.0000092, SHIB went below the First Major Support Level (S1).

 

SHIB completed the trading day at $0.00000907, after establishing support at the Second Major Support Level (S2) S1 prevented SHIB from recovering fully.


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