DOGE Bulls Continue to Target $0.11 Ahead of Fed Chair Powell Speech

Key Insights:

  • Dogecoin (DOGE) and shiba inu coin (SHIB) joined the broader market in a rebound session on Tuesday, with DOGE wrapping up the day at $0.1014.
  • Market risk appetite and Twitter plans to integrate DOGE onto the payment platform delivered price support.
  • The technical indicators remain mixed, with the DOGE EMAs signaling further price gains.

On Tuesday, dogecoin (DOGE) rallied by 6.74%. Reversing a 3.55% loss from Monday, DOGE ended the day at $0.1014. Notably, DOGE wrapped up the day at $0.10 for the first time since November 7.

A mixed start to the day saw DOGE fall to an early low of $0.0936. Steering clear of the First Major Support Level (S1) at $0.0906, DOGE rallied to a late morning high of $0.1053. DOGE broke through the First Major Resistance Level (R1) at $0.0995 and the Second Major Resistance Level (R2) at $0.1040.

However, a mixed afternoon saw DOGE fall back through R2 and R1 to end the day at $0.1014.

Shiba inu coin (SHIB) ended the Tuesday flat. Following a 2.05% loss from Monday, SHIB ended the day at $0.00000908.

Tracking DOGE, SHIB fell to an early low of $0.00000899. Steering clear of the First Major Support Level (S1) at $0.00000878, SHIB rose to a mid-morning high of $0.00000931. However, falling short of the First Major Resistance Level (R1) at $0.00000937, SHIB fell back to an afternoon low of $0.00000900 before wrapping up the day at $0.00000908.

After the China protests on Monday, hopes of the Chinese government easing COVID lockdown measures drove demand for riskier assets through the Tuesday morning session.

Easing fear of FTX contagion also provided support as investors brushed aside the news of BlockFi filing for bankruptcy.

For DOGE investors, Twitter integration plans continued to deliver price support.

Dogecoin (DOGE) Price Action

At the time of writing, DOGE was up 4.93% to $0.1064. A bullish start to the day saw DOGE rally from an early low of $0.1009 to a high of $0.1099.

DOGE broke through the First Major Resistance Level (R1) at $0.1066 before easing back.

DOGE on the move.
DOGEUSD 301122 Daily Chart

Technical Indicators

DOGE needs to avoid the $0.1001 pivot to retarget the First Major Resistance Level (R1) at $0.1066 and the morning high of $0.1099. A return to $0.1075 would signal a bullish afternoon session. However, the crypto news wires need to be crypto-friendly to support a breakout session.

In the event of an extended afternoon breakout session, the bulls could take a run at the Second Major Resistance Level (R2) at $0.1118 and $0.1150. The Third Major Resistance Level (R3) sits at $0.1235.

A fall through the pivot ($0.1001) would bring the First Major Support Level (S1) at $0.0949 into play. Barring an extended sell-off, DOGE should avoid sub-$0.0900 and the Second Major Support Level (S2) at $0.0884. However, further signs of FTX contagion would bring sub-$0.0800 into view.

The Third Major Support Level (S3) sits at $0.0767.

DOGE resistance levels in play.
DOGEUSD 301122 Hourly Chart

The EMAs sent a bullish signal, with DOGE sitting above the 50-day EMA, currently at $0.0931. The 50-day EMA pulled away from the 100-day EMA, with the 100-day EMA widening from the 200-day EMA. The price signals were bullish.

A hold above S1 ($0.0949) and the 50-day EMA ($0.0931) would support a breakout from R1 ($0.1066) to target R2 ($0.1118). However, a fall through S1 ($0.0949) and the EMAs would bring S2 ($0.0884) into view.

EMAs bullish.
DOGEUSD 301122 4 Hourly Chart

Shiba Inu Coin (SHIB) Price Action

At the time of writing, SHIB was up 2.20% to $0.00000928. A bullish start to the day saw SHIB rise from an early low of $0.00000906 to a high of $0.00000939.

SHIB broke through the First Major Resistance Level (R1) at $0.00000926.

SHIB finds morning support.
SHIBUSD 301122 Daily Chart

Technical Indicators

SHIB needs to hold above R1 and the $0.00000913 pivot to target the Second Major Resistance Level (R2) at $0.00000945. A return to $0.00000940 would signal a bullish afternoon session. However, SHIB will likely take its cues from the broader crypto market today.

In the case of an extended rally, SHIB would likely test resistance at $0.00000950. The Third Major Resistance Level (R3) sits at $0.00000977.

A fall through R1 and the pivot would bring the First Major Support Level (S1) at $0.00000894 into play. Barring another extended sell-off, SHIB should avoid sub-$0.00000890 and the Second Major Support Level (S2) at $0.00000881. The Third Major Support Level (S3) sits at $0.00000849.

SHIB resistance levels in play.
SHIBUSD 301122 Hourly Chart

The EMAs send a bearish signal, with SHIB sitting below the 100-day EMA, currently at $0.00000930. This morning, the 50-day EMA narrowed on the 100-day EMA, while the 100-day EMA slipped back from the 200-day EMA. The signals were mixed.

A SHIB move through the 100-day EMA ($0.00000930) would support a run at R2 ($0.000000945) and $0.000000950. However, a fall through the 50-day EMA ($0.00000912) would bring S1 ($0.00000894) into view.

EMAs remain bearish.
DOGEUSD 301122 4 Hourly Chart

DOGE Bulls Target $0.11 as Investor Focus Returns to Twitter Plans

Key Insights:

  • Dogecoin (DOGE) and shiba inu coin (SHIB) joined the broader market in the red on Monday, with DOGE seeing red for the second time in four sessions.
  • Sentiment towards DOGE integration onto the Twitter payment platform took a backseat, with riskier assets hitting reverse after the US Thanksgiving Holidays.
  • The technical indicators are mixed, with the DOGE EMAs signaling further price gains.

On Monday, dogecoin (DOGE) slid by 3.55%. Partially reversing a 10.67% rally from Sunday, DOGE ended the day at $0.0950. Notably, DOGE avoided sub-$0.0900 for the fourth consecutive session.

A mixed start to the day saw DOGE rise to an early high of $0.0996. Coming up short of the First Major Resistance Level (R1) at $0.01080, DOGE slid to a late afternoon low of $0.0907. However, steering clear of the First Major Support Level (S1) at $0.0888, DOGE found support to end the day at $0.0950.

Shiba inu coin (SHIB) fell by 2.05% on Monday. Partially reversing a 2.89% gain from Sunday, SHIB ended the day at $0.00000908.

Tracking DOGE, SHIB rose to an early high of $0.00000936. Falling short of the First Major Resistance Level (R1) at $0.00000960, SHIB slid to an early low of $0.00000877. SHIB briefly slipped through the First Major Support Level (S1) at $0.00000897 before wrapping up the day at $0.00000908.

Bearish sentiment stemming from protests across China weighed on riskier assets on Monday. The NASDAQ Composite Index sent DOGE and SHIB into the deep red. Despite news of BlockFi filing for bankruptcy, the pair found late support to limit the losses from the session.

This morning, investor focus returned to Twitter and the hope of Twitter integrating DOGE onto the payment platform.

On Sunday, Elon Musk delivered a DOGE breakout session that provided SHIB with much-needed price support. Musk posted a set of slides from a recent Twitter company talk on Sunday. A fourth slide, titled Payments, did not reveal which form of payments Twitter 2.0 will accept. However, investors took this as a cue for DOGE incorporation.

Dogecoin (DOGE) Price Action

At the time of writing, DOGE was up 6.32% to $0.1010. A bullish start to the day saw DOGE rally from an early low of $0.0936 to a high of $0.1032.

DOGE broke through the First Major Resistance Level (R1) at $0.0995.

DOGE on the move.
DOGEUSD 291122 Daily Chart

Technical Indicators

DOGE needs to hold above R1 and the $0.0951 pivot to retarget the Second Major Resistance Level (R2) at $0.1040 and last week’s high of $0.1079. A return to $0.1050 would signal a bullish afternoon session. However, the crypto news wires need to be crypto-friendly to support a breakout session.

In the event of an extended afternoon breakout session, the bulls could take a run at $0.11 and the Third Major Resistance Level (R3) at $0.1129.

A fall through R1 and the pivot ($0.0951) would bring the First Major Support Level (S1) at $0.0906 into play. Barring an extended sell-off, DOGE should avoid sub-$0.0900 and the Second Major Support Level (S2) at $0.0862. However, further signs of FTX contagion would bring sub-$0.0800 into view.

The Third Major Support Level (S3) sits at $0.0773.

DOGE resistance levels in play.
DOGEUSD 291122 Hourly Chart

The EMAs sent a bullish signal, with DOGE sitting above the 50-day EMA, currently at $0.0902. The 50-day EMA pulled away from the 100-day EMA, with the 100-day EMA widening from the 200-day EMA. The price signals were bullish.

A hold above S1 ($0.0906) and the 50-day EMA ($0.0902) would support a breakout from R2 ($0.1040) to target $0.11. However, a fall through S1 ($0.0906) and the EMAs would bring S2 ($0.0862) into view.

DOGE EMAs bullish.
DOGEUSD 291122 4 Hourly Chart

Shiba Inu Coin (SHIB) Price Action

At the time of writing, SHIB was up 0.99% to $0.00000917. A mixed start to the day saw SHIB fall to an early low of $0.00000899 before rising to a high of $0.00000927.

SHIB finds support.
SHIBUSD 291122 Daily Chart

Technical Indicators

SHIB needs to avoid the $0.00000907 pivot to target the First Major Resistance Level (R1) at $0.00000937. A return to $0.00000930 would signal a bullish afternoon session. However, SHIB will likely take its cues from the broader crypto market today.

In the case of an extended rally, SHIB would likely test the Second Major Resistance Level (R2) at $0.00000966. The Third Major Resistance Level (R3) sits at $0.00001025.

A fall through the pivot would bring the First Major Support Level (S1) at $0.00000878 into play. Barring another extended sell-off, SHIB should avoid sub-$0.00000850 and the Second Major Support Level (S2) at $0.00000848. The Third Major Support Level (S3) sits at $0.00000789.

SHIB resistance levels in play.
SHIBUSD 291122 Hourly Chart

The EMAs send a bearish signal, with SHIB sitting below the 100-day EMA, currently at $0.00000932. This morning, the 50-day EMA flattened on the 100-day EMA, while the 100-day EMA fell back from the 200-day EMA. The signals were mixed.

A hold above the 50-day EMA ($0.00000911) would support a breakout from the 100-day EMA ($0.00000932) and R1 ($0.00000937) to target R2 ($0.00000966). However, a fall through the 50-day EMA ($0.00000911) would bring S1 ($0.00000878) into view.

EMAs bearish.
SHIBUSD 291122 4 Hourly Chart

DOGE and SHIB Slide as Sentiment Turns Bearish on China News

Key Insights:

  • Dogecoin (DOGE) and shiba inu coin (SHIB) bucked the broader market trend on Saturday, with DOGE revisiting $0.10 in a breakout session.
  • Elon Musk was behind the DOGE breakout, with Musk raising hopes of DOGE inclusion for Twitter 2.0 payments.
  • The technical indicators are mixed, with the DOGE EMAs signaling further price gains.

On Sunday, dogecoin (DOGE) jumped by 10.67%. Reversing a 0.34% loss from Saturday, DOGE ended the week up 28.09% to $0.0985. Notably, DOGE revisited $0.10 for the first time since November 8.

A bullish morning saw DOGE rally from an early low of $0.0887 to a late morning high of $0.1079. DOGE broke through the First Major Resistance Level (R1) at $0.0939 and the Second Major Resistance Level (R2) at $0.0989. However, coming up against the Third Major Resistance Level (R3) at $0.1079, DOGE fell back to end the day at sub-$0.100.

Shiba inu coin (SHIB) rose by 2.89% on Sunday. Reversing a 1.85% loss from Saturday, SHIB ended the week up 5.58% to $0.00000927.

Tracking DOGE, SHIB rose from an early low of $0.00000899 to a late morning high of $0.00000962. SHIB broke through the First Major Resistance Level (R1) at $0.00000928 and the Second Major Resistance Level (R2) at $0.00000956. However, a bearish end to the day saw SHIB fall back through the Resistance Levels to end the day at $0.00000927.

Elon Musk delivered a DOGE breakout session that provided SHIB with much-needed price support.

Musk posted a set of slides from a recent Twitter company talk on Sunday. A fourth slide, titled Payments, did not reveal which form of payments Twitter 2.0 will accept. However, investors took this as a cue for DOGE incorporation.

The latest tweet followed reports of Elon Musk planning to upgrade DOGE with the help of Vitalik Buterin.

However, the pair were on the defensive this morning. News of protests in China over COVID-19 lockdown measures weighed on riskier assets.

Dogecoin (DOGE) Price Action

At the time of writing, DOGE was down 5.08% to $0.0935. A bearish start to the week saw DOGE rise to an early high of $0.0996 before sliding to a low of $0.0918.

DOGE on the slide.
DOGEUSD 281122 Daily Chart

Technical Indicators

DOGE needs to move through the $0.0984 pivot to target the First Major Resistance Level (R1) at $0.1080. A return to $0.10 would signal a bullish afternoon session. However, the crypto news wires need to be crypto-friendly to support a breakout session.

In the event of an extended afternoon breakout session, the bulls could take a run at $0.11 and the Second Major Resistance Level (R2) at $0.1176. The Third Major Resistance Level (R3) sits at $0.1368.

Failure to move through the pivot ($0.0984) would leave the First Major Support Level (S1) at $0.0888 in play. Barring an extended sell-off, DOGE should avoid sub-$0.0850 and the Second Major Support Level (S2) at $0.0792.

The Third Major Support Level (S3) sits at $0.0600.

DOGE support levels in play.
DOGEUSD 281122 Hourly Chart

The EMAs sent a bullish signal, with DOGE sitting above the 50-day EMA, currently at $0.0881. The 50-day EMA crossed through the 100-day EMA, with the 100-day EMA pulling away from the 200-day EMA. The price signals were bullish.

A hold above S1 ($0.0888) and the 50-day EMA ($0.0881) would support a run at R1 ($0.1080). However, a fall through S1 ($0.0888) and the EMAs would bring sub-$0.0800 and S2 ($0.0792) into view.

EMAs bullish.
DOGEUSD 281122 4 Hourly Chart

Shiba Inu Coin (SHIB) Price Action

At the time of writing, SHIB was down 4.75% to $0.00000883. A mixed start to the day saw SHIB rise to an early high of $0.00000936 before sliding to a low of $0.00000877.

SHIB fell through the First Major Support Level (S1) at $0.00000897.

SHIB in the red.
SHIBUSD 281122 Daily Chart

Technical Indicators

SHIB needs to move through S1 and the $0.00000929 pivot to target the First Major Resistance Level (R1) at $0.00000960 and the Sunday high of $0.00000962. A return to $0.00000950 would signal a bullish afternoon session. However, SHIB will likely take its cues from the broader crypto market today.

In the case of an extended rally, SHIB would likely test the Second Major Resistance Level (R2) at $0.00000992 and resistance at $0.0000100. The Third Major Resistance Level (R3) sits at $0.00001055.

Failure to move through S1 and the pivot would bring the Second Major Support Level (S2) at $0.00000866 into play. Barring an extended sell-off, SHIB should avoid sub-$0.00000850 and the Third Major Support Level (S3) at $0.00000803.

SHIB support levels in play.
SHIBUSD 281122 Hourly Chart

The EMAs send a bearish signal, with SHIB sitting below the 50-day EMA, currently at $0.00000911. This morning, the 50-day EMA fell back from the 100-day EMA, with the 100-day EMA easing back from the 200-day EMA. The signals were bearish.

A move through S1 ($0.00000888) and the 50-day EMA ($0.00000911) would support a breakout from the 100-day EMA ($0.00000935) to target R1 ($0.00000960). However, failure to move through S1 and the 50-day EMA ($0.00000911) would leave S2 ($0.00000866) in view.

EMAs bearish.
SHIBUSD 281122 4 Hourly Chart

Week Ahead: How Likely Will EUR/USD Hit 1.05?

Economic Calendar for Next Week

Monday, November 28

  • AUD: Australia October retail sales
  • EUR: European Central Bank President Christine Lagarde speech
  • USD: Speeches by New York Fed President John Williams, St. Louis Fed President James Bullard

Tuesday, November 29

  • JPY: Japan October unemployment, retail sales
  • GBP: Bank of England’s Catherine Mann speech
  • EUR: Germany November inflation, Eurozone November economic confidence
  • CAD: Canada September GDP
  • USD: US November consumer confidence
  • Twitter to relaunch blue-tick verification

Wednesday, November 30

  • JPY: Japan October industrial production
  • CNY: China November PMIs
  • AUD: Australia October inflation
  • EUR: Eurozone November inflation, Germany November unemployment
  • GBP: Bank of England Chief Economist Huw Pill speech
  • USD: Fed Chair Jerome Powell speech, Fed Beige Book, US 3Q GDP (second estimate)
  • US crude: EIA weekly oil inventory report

Thursday, December 1

  • JPY: Bank of Japan Governor Haruhiko Kuroda speech
  • CNY: China November Caixin manufacturing PMI
  • EUR: Eurozone October unemployment, November manufacturing PMI, speech by ECB Chief Economist Philip Lane
  • GBP: UK November manufacturing PMI (final)
  • USD: US weekly initial jobless claims; October personal income/spending, PCE deflator; November manufacturing
  • USD: Speeches by Dallas Fed President Lorie Logan, Fed Governor Michelle Bowman

Friday, December 2

  • USD: US November jobs report, Chicago Fed President Charles Evans speech
  • CAD: Canada November unemployment

The coming week appears set up for a major move in EURUSD, as markets await key data out of the Eurozone and the US economies.

  • The Eurozone’s November consumer price index (CPI) is expected to remain at painful levels, with the CPI from the month prior hitting a record high of 10.7%.
  • The headline US November nonfarm payrolls figure is forecasted to come in at 200,000 (lower than October’s 261k), while the unemployment rate is set to hold at 3.7%.

Ultimately, such economic data will be filtered the global tightening lens.

That means that markets will interpret the data based on whether or not they allow either the European Central Bank of the US Federal Reserve to carry on with larger interest rate hikes.

Raising Interest Rates Has Been the Best Tool To Fight Against Inflation

Keep in mind that inflation has been enemy #1 for major central banks, and their primary weapon in fending off the inflation beast is by raising interest rates.

  • The stronger the inflationary pressures, the larger the rate hike (typically).
  • The larger the rate hike (relative to other economies), the stronger its currency.
  • However, aggressive hikes also carry the risk of triggering an economic recession.
  • Hence, central banks may start to ease up on their rate hikes (either by opting for smaller rate hikes, or pausing, or even making a u-turn with a rate cut instead) if they grow concerned about incurring too much economic damage.

Hence, it’s the above narrative that will guide investors and traders, as they asses the EURUSD’s prospects over the week ahead, in light of the incoming data.

Potential Scenarios

  1. EURUSD may move higher if Eurozone’s November inflation punched its way to a fresh record high above 10.7% + a higher-than-expected US unemployment rate/lower-than-expected headline US NFP number (<200k)
  2. EURUSD may move lower if Eurozone inflation eases below October’s 10.7% + a lower-than-expected US unemployment rate/higher-than-expected headline US NFP (>200k)

Will EUR/USD Stay Above or Below its 200-day SMA?

EURUSD’s 200-day simple moving average (SMA) has exerted strong resistance over the world’s most popularly traded FX pair in recent sessions.

Note also that the 1.04 region was a key battleground between bulls and bears back in May/June, twice repelling euro bears (those who believe that EURUSD will fall).

Based on current levels, markets are forecasting a likelier-than-even chance (61%) that EURUSD would move northward and touch 1.05 by this time next week, as opposed to the 43% chance that EURUSD would moderate back down to 1.03 over the same period.

However, further gains may tip EURUSD over into ‘overbought’ territory, with its 14-day relative strength index now threatening to cross over the 70 threshold.

Such a technical event may signal an immediate pullback.

Ultimately, whether EURUSD can stay either above or below its 200-day SMA next week is set to depend on which central bank has been allowed to persist with supersized rate hikes.

For more information visit FXTM.

SHIB Targets $0.00000950 While DOGE Struggles to Revisit $0.0900

Key Insights:

  • Dogecoin (DOGE) and shiba inu coin (SHIB) joined the broader crypto market in positive territory for a second consecutive session on Wednesday.
  • Improved sentiment towards FTX contagion risk and Fed monetary policy delivered DOGE and SHIB support.
  • However, the technical indicators remain bearish, with the EMAs signaling a possible pullback.

On Wednesday, dogecoin (DOGE) rose by 4.20%. Following a 5.23% rally on Tuesday, DOGE ended the day at $0.0818. Notably, DOGE avoided ending the day at sub-$0.0800 for the first time in four sessions.

A mixed start to the day saw DOGE fall to an early low of $0.0777. Steering clear of the First Major Support Level (S1) at $0.0744, DOGE rallied to an early high of $0.0835. DOGE broke through the First Major Resistance Level (R1) at $0.0911 before easing back.

However, a bullish afternoon saw DOGE break back through R1 to end the day at $0.0818.

Shiba inu coin (SHIB) rose by 2.72% on Wednesday. Following a 4.76% rally on Tuesday, SHIB ended the day at $0.00000905.

Tracking the broader market, SHIB fell to an early low of $0.00000874. Steering clear of the First Major Support Level (S1) at $0.00000838, SHIB rallied to an early high of $0.00000910. SHIB broke through the First Major Resistance Level (R1) at $0.00000904 before easing back to sub-$0.00000890.

However, a bullish end to the session saw SHIB break back through R1 to end the day at $0.00000905.

FTX contagion risk eased further on Wednesday, delivering DOGE, SHIB, and the broader market with support. Hopes of FTX assets limiting the impact on creditors continued to provide price support mid-week.

However, the FOMC meeting minutes also delivered support to riskier assets later in the day. The FOMC meeting minutes revealed members considering smaller rate hikes, supporting market bets of a December Fed pivot.

In response to the minutes, the probability of a 75-basis point December rate hike fell from 24.2% to 19.4%. The increased likelihood of a 50-basis point rate hike also delivered NASDAQ support. On Wednesday, the NASDAQ Composite Index rose by 0.99%.

FOMC meeting minutes deliver support.
DOGE – SHIB – NASDAQ – 241122

Dogecoin (DOGE) Price Action

At the time of writing, DOGE was up 0.73% to $0.0824. A mixed start to the day saw DOGE fall to an early low of $0.0807 before rising to a high of $0.0842.

The First Major Resistance Level (R1) at $0.0843 capped the upside early on.

DOGE finds early support.
DOGEUSD 241122 Daily Chart

Technical Indicators

DOGE needs to avoid the $0.0810 pivot to retarget the First Major Resistance Level (R1) at $0.0843. A move through the morning high of $0.0842 would signal a bullish afternoon session. However, the crypto news wires need to be crypto-friendly to support a breakout session.

In the event of an extended afternoon breakout session, the bulls could take a run at the Second Major Resistance Level (R2) at $0.0868 and $0.0900. The Third Major Resistance Level (R3) sits at $0.0926.

A fall through the pivot ($0.0810) would bring the First Major Support Level (S1) at $0.0785 into play. Barring an extended sell-off, DOGE should avoid sub-$0.0770 and the Second Major Support Level (S2) at $0.0752. However, further signs of FTX contagion would bring sub-$0.0700 into view.

The Third Major Support Level (S3) sits at $0.0694.

DOGE resistance levels in play above the pivot.
DOGEUSD 241122 Hourly Chart

The EMAs sent a bearish signal, with DOGE sitting at the 50-day EMA, currently at $0.0821. The 50-day EMA flattened on the 200-day EMA, while the 100-day EMA pulled back from the 200-day EMA. The price signals were mixed.

A breakout from the 50-day EMA ($0.0821) would support a move through R1 ($0.0843) to bring the 100-day ($0.0861) and 200-day ($0.0864) EMAs into play. However, a fall through the 50-day EMA ($0.0821) would give the bears a run at S1 ($0.0785).

EMAs remain bearish.
DOGEUSD 241122 4 Hourly Chart

Shiba Inu Coin (SHIB) Price Action

At the time of writing, SHIB was up 0.66% to $0.00000911. A mixed start to the day saw SHIB fall to an early low of $0.00000898 before rising to a high of $0.00000920.

The First Major Resistance Level (R1) at $0.00000919 capped the upside early on.

SHIB makes an early move.
SHIBUSD 241122 Daily Chart

Technical Indicators

SHIB needs to avoid a fall through the $0.00000896 pivot to retarget the First Major Resistance Level (R1) at $0.00000919. A return to $0.00000920 would signal a bullish afternoon session. However, any further contagion news would test buyer appetite.

In the case of an extended rally, SHIB would likely test the Second Major Resistance Level (R2) at $0.00000932 and resistance at $0.00000950. The Third Major Resistance Level (R3) sits at $0.00000968.

A fall through the pivot would bring the First Major Support Level (S1) at $0.00000883 into play. Barring another extended sell-off, SHIB should avoid sub-$0.00000880 and the Second Major Support Level (S2) at $0.00000860.

The Third Major Support Level (S3) sits at $0.00000824.

SHIB resistance levels in play above the pivot.
SHIBUSD 241122 Hourly Chart

The EMAs send a bearish signal, with SHIB sitting below the 100-day EMA, currently at $0.00000947. This morning, the 50-day EMA narrowed to the 100-day EMA, while the 100-day EMA fell back from the 200-day EMA. The signals were mixed.

A move through the R1 ($0.00000919) would give the bulls a run at R2 ($0.00000932) and the 100-day EMA ($0.0000947). However, a fall through the 50-day EMA would bring S1 ($0.00000883) into view.

EMAs bearish.
SHIBUSD 241122 4 Hourly Chart

DOGE Risks a Return to Sub-$0.0700 on Twitter News and FTX Contagion

Key Insights:

  • Dogecoin (DOGE) and shiba inu coin (SHIB) saw red for a second consecutive session on Monday.
  • FTX contagion risk spread on news of Genesis warning of a bankruptcy threat, with Twitter updates also weighing.
  • The technical indicators remain bearish, with the EMAs signaling further downside.

On Monday, dogecoin (DOGE) fell by 2.99%. Following a 9.10% slide on Sunday, DOGE ended the day at $0.0746. Notably, DOGE ended the day at sub-$0.0800 for the second time since November 9.

A choppy start to the day saw DOGE rise to a mid-morning high of $0.0772. Falling short of the First Major Resistance Level (R1) at $0.0829, DOGE slid to a late low of $0.0713. DOGE briefly fell through the First Major Support Level (S1) at $0.0736 before ending the day at $0.0746.

Shiba inu coin (SHIB) slid by 4.21% on Monday. Following a 3.83% loss on Sunday, SHIB ended the day at $0.00000841.

SHIB rose to an early morning high of $0.00000879. Coming up short of the First Major Resistance Level (R1) at $0.00000911, SHIB slid to a late low of $0.00000822. SHIB fell through the First Major Support Level (S1) at $0.00000855 and briefly through the Second Major Support Level (S2) at $0.00000833 before ending the day at sub-$0.00000841.

FTX contagion risk continued to weigh on investor sentiment. Following news of Genesis freezing withdrawals, news of Genesis delivering a bankruptcy warning sent DOGE and SHIB into the red.

No immediate signs of Twitter resumping the crypto integration program was also DOGE negative.

This morning, DOGE and SHIB found early support. However, barring DOGE-friendly Twitter and Elon Musk announcements, FTX contagion will threaten further losses.

Dogecoin (DOGE) Price Action

At the time of writing, DOGE was up 1.74% to $0.0759. A bullish start to the day saw DOGE rise from an early low of $0.0744 to a high of $0.0762.

DOGE finds early support.
DOGEUSD 221122 Daily Chart

Technical Indicators

DOGE needs to avoid the $0.0744 pivot to target the First Major Resistance Level (R1) at $0.0774. A move through the Monday high of $0.0772 would signal a bullish afternoon session. However, the crypto news wires need to be crypto-friendly to support a breakout session.

In the event of an extended afternoon breakout session, the bulls could take a run at the Second Major Resistance Level (R2) at $0.0803. The Third Major Resistance Level (R3) sits at $0.0862.

A fall through the pivot ($0.0744) would bring the First Major Support Level (S1) at $0.0715 into play. However, barring another extended sell-off, DOGE should avoid sub-$0.0700 and the Second Major Support Level (S2) at $0.0685. Further signs of FTX contagion would bring sub-$0.0700 into view.

The Third Major Support Level (S3) sits at $0.0626.

DOGE resistance levels in play below the pivot.
DOGEUSD 221122 Hourly Chart

The EMAs sent a bearish signal, with DOGE sitting below the 50-day EMA, currently at $0.0835. The 50-day EMA slid back from the 200-day EMA, with the 100-day EMA converging on the 200-day EMA. The price signals were bearish.

A move through R1 ($0.0773) would give the bulls a run at R2 ($0.0803) and the 50-day EMA ($0.0835). However, failure to move through the 50-day EMA would leave DOGE under pressure. A bearish cross of the 100-day EMA through the 200-day EMA would give the bears a run at sub-$0.0700.

EMAs remain bearish.
DOGEUSD 221122 4 Hourly Chart

Shiba Inu Coin (SHIB) Price Action

At the time of writing, SHIB was up 0.71% to $0.00000847. A bullish start to the day saw SHIB rise from an early low of $0.00000839 to a high of $0.00000854.

SHIB finds early support.
SHIBUSD 221122 Daily Chart

Technical Indicators

SHIB needs to avoid a fall through the $0.00000847 pivot to target the First Major Resistance Level (R1) at $0.00000873 and the Monday high of $0.00000879. A return to $0.00000870 would signal a bullish afternoon session. However, any further contagion news would test buyer appetite.

In the case of an extended rally, SHIB would likely test the Second Major Resistance Level (R2) at $0.00000904. The Third Major Resistance Level (R3) sits at $0.00000961.

A fall through the pivot would bring the First Major Support Level (S1) at $0.00000816 into play. Barring another extended sell-off, SHIB should avoid sub-$0.00000800 and the Second Major Support Level (S2) at $0.00000790.

The Third Major Support Level (S3) sits at $0.00000733.

SHIB resistance levels in play above the pivot.
SHIBUSD 221122 Hourly Chart

The EMAs send a bearish signal, with SHIB sitting below the 50-day EMA, currently at $0.00000912. This morning, the 50-day EMA fell back from the 100-day EMA, with the 100-day EMA easing back from the 200-day EMA. The signals were bearish.

A move through R1 ($0.00000873) would give the bulls a run at R2 ($0.00000904) and the 50-day EMA ($0.00000912). However, failure to move through the 50-day EMA would leave SHIB under pressure.

EMAs bearish.
SHIBUSD 221122 4 Hourly Chart

Twitter in Tatters – What’s Next for the Social Media Platform?

With each week that passes, the situation appears more cringeworthy and many are talking more about ‘when’ Twitter will fail rather than ‘if.’

With a global downturn on the horizon and many of the big tech firms laying off workers left and right, how can a company like Twitter pivot from this messy year of legal battles, political upheaval, whispers of bankruptcy, and fleeing advertisers?

Last Week

Musk on the 16th of November asked via email that his remaining staff either commit to long hours and being ‘extremely hardcore’ or take a severance package of three months’ wages. It seems that many weren’t willing to match the work ethic of their new CEO, who is known for putting in some ridiculously long days at work himself.

Recently in November, at a conference held by Baron Capital Group, he commented onstage that his own workload had increased from around 70 to 80 hours up to nearly 120. “Go to sleep, I wake up, work, go to sleep, work, do that seven days a week,” he said. If that’s what Musk means by ‘extremely hardcore’ it’s not hard to imagine why so many Twitter staff have since pulled the pin.

It seems like the worst conceivable moment for Musk to issue his ultimatum too, as the 2022 FIFA World Cup began over the weekend, which has always been an event that creates the most worldwide traffic to the site. Even under ideal conditions, the World Cup presents a significant challenge to the platform, necessitating close coordination between members of the site-reliability-engineering team to guarantee that mission-critical services continue to function.

The Guardian reported that the platform was already failing to remove the vast majority of severely racist tweets about indigenous players in the lead-up, sparking concerns about abuse.

Active Platform Under Construction

Twitter has never been a very profitable company, but lately, the company is said to be losing something like 4 million dollars a day. Money needs to start coming in as soon as possible for the platform to stay afloat, and the latest flop with the subscription service hasn’t helped. The service, known as Twitter Blue, was dumped after impersonators took advantage of an opportunity to become “certified” by only paying $8 per month for the privilege.

Musk made an effort to persuade major advertisers that his messy acquisition of Twitter wouldn’t have an adverse effect on their brands. He admitted that certain “dumb things” may occur as he was working to improve and secure the user experience. Musk, though, assured that these experimentation would not damage the brands’ reputations.

Eli Lilly, the global pharmaceutical company, will be one such brand that will strongly disagree. A fake account claimed in a tweet that insulin was now free for customers, which caused the stock price to temporarily tumble, and the company was forced to defend itself.

Musk has ruthlessly eliminated teams that deal with Twitter’s complicated legal and privacy regulations and the enforcement of those policies, as well as technical workers with vital institutional expertise. In addition to stopping new code from being deployed, he also plans to cut off Twitter’s microservices.

Earlier this month, Musk warned that the business could soon go under, saying that without an increase in subscription money, it would not be able to withstand the next economic downturn.

90% of Twitter’s annual revenue of $5.1 billion (£4.3 billion) comes from advertising, albeit this revenue stream has been significantly impacted by a decline in expenditure by important clients such as General Motors.

Musk said categorically after the purchase that there had been a “dramatic drop” in the revenue generated by adverts.

A Management Style that Might Need Work?

It is well known that Elon Musk has a reputation for being a somewhat brash and demanding boss of SpaceX and Tesla, he tends to place the utmost weight on the quality of the product.

Regardless of whether the workers who are developing the goods agree with how he intends to reach his goals or the goals themselves, they are often expected to go above and beyond to achieve success. Some have even reported having slept on the floor of their offices to meet their deadlines.

Ex-employees of Tesla have said that Musk is only interested in the company’s bottom line, and that settling disputes with the billionaire is impossible without first establishing a level of trust. One former Tesla employee noted that working long hours is inevitable, therefore individuals must evaluate whether or not they can maintain such a schedule.

Surely having requirements of his employees like these will not bode well for rebuilding the company, especially since they will really need to hit the ground running to regain the trust of their users and advertisers before they flee to alternative social media platforms.

Disclaimer

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 85% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

ActivTrades Corp is authorised and regulated by The Securities Commission of the Bahamas. ActivTrades Corp is an international business company registered in the Commonwealth of the Bahamas, registration number 199667 B.

The information provided does not constitute investment research. The material has not been prepared in accordance with the legal requirements designed to promote the independence of investment research and as such is to be considered to be a marketing communication.

All information has been prepared by ActivTrades (“AT”). The information does not contain a record of AT’s prices, or an offer of or solicitation for a transaction in any financial instrument. No representation or warranty is given as to the accuracy or completeness of this information.

Any material provided does not have regard to the specific investment objective and financial situation of any person who may receive it. Past performance is not a reliable indicator of future performance. AT provides an execution-only service. Consequently, any person acting on the information provided does so at their own risk.

DOGE Bears Target a Return to Sub-$0.0700 on FTX Contagion

Key Insights:

  • Dogecoin (DOGE) and shiba inu coin (SHIB) joined the broader crypto market in the red on Sunday.
  • FTX contagion sent the crypto market into the red, with the latest news overshadowing network updates.
  • The technical indicators remain bearish, with the EMAs signaling further downside.

On Sunday, dogecoin (DOGE) slid by 9.10%. After ending the day flat on Saturday, DOGE ended the week down 9.32% to $0.0769. Notably, DOGE ended the day at sub-$0.0800 for the first time since November 9.

A bullish start to the day saw DOGE rise to an early morning high of $0.0857. Coming up against the First Major Resistance Level (R1) at $0.0854, DOGE slid to a late low of $0.0764. DOGE slid through the day’s Major Support Levels to end the session at sub-$0.0800.

Shiba inu coin (SHIB) fell by 3.83% on Sunday. Reversing a 0.44% gain from Saturday, SHIB ended the week down 2.55% to $0.00000878.

Tracking the broader market, SHIB rose to an early morning high of $0.00000922. Coming up short of the First Major Resistance Level (R1) at $0.00000926, SHIB slid to a late low of $0.00000866. SHIB fell through the First Major Support Level (S1) at $0.00000897 and the Second Major Support Level (S2) at $0.00000881 to end the day at sub-$0.00000880.

Network and Twitter news updates provided little price support, with contagion fear hitting investor sentiment.

FTX news updates reignited contagion fear following reports of FTX owing its top 50 creditors close to $3.1 billion. Alarmingly FTX owes $1.45 billion to the top ten creditors. The numbers raised the chances of more FTX-fueled bankruptcies.

DOGE saw sizeable losses, with uncertainty over Twitter and its crypto integration plans weighing.

However, SHIB updates provided a price cushion. Over the weekend, Shiba Inu News discussed a partnership between SHIB and Amazon Inc. (AMZN). Shiba Inu News said,

“BREAKING: A massive partnership between SHIB and Amazon is being worked on. It could happen as soon as December 1 if negotiations continue to go well.”

Shiba Inu News added,

“We’ll have more on the story soon. We were FIRST to break when Robinhood (HOOD) was listing SHIB.”

In a second tweet, Shiba Inu News said,

“MORE UPDATES: Our insider at Amazon is on their leadership team. They’ve been meeting internally since Q4 began. Oftentimes, crypto is a big topic of discussion. They’ve been impressed with the growth of SHIB and the total holders worldwide. Expect a partnership in Q1 2023.”

For today, barring news of Twitter resuming its crypto integration plans, FTX contagion will remain the focal point. The weekend news of FTX’s exposure to creditors will likely leave investors anxious until the identities of the creditors are available.

Dogecoin (DOGE) Price Action

At the time of writing, DOGE was down 2.21% to $0.0752. A bearish start to the day saw DOGE fall from an early high of $0.0771 to a low of $0.0735.

The First Major Support Level (S1) at $0.0736 limited the downside.

DOGE on the back foot.
DOGEUSD 211122 Daily Chart

Technical Indicators

DOGE needs to move through the $0.0797 pivot to target the First Major Resistance Level (R1) at $0.0829 and the Sunday high of $0.0857. A return to $0.0800 would signal a bullish afternoon session. However, the crypto news wires need to be crypto-friendly to support a breakout session.

In the event of an extended afternoon breakout session, the bulls could take a run at the Second Major Resistance Level (R2) at $0.0890 and $0.0900. The Third Major Resistance Level (R3) sits at $0.0983.

Failure to move through the pivot ($0.0797) would leave the First Major Support Level (S1) at $0.0736 in play. However, barring another extended sell-off, DOGE should avoid sub-$0.0700. The Second Major Support Level (S2) at $0.0704 should limit the downside.

The Third Major Support Level (S3) sits at $0.0611.

DOGE support levels in play.
DOGEUSD 211122 Hourly Chart

The EMAs sent a bearish signal, with DOGE sitting below the 50-day EMA, currently at $0.0857. The 50-day EMA slid back from the 200-day EMA, with the 100-day EMA narrowing to the 200-day EMA. The price signals were bearish.

A move through R1 ($0.0829) would give the bulls a run at the 50-day EMA ($0.0857) and R2 ($0.0890). However, failure to move through the 50-day EMA would leave DOGE under pressure.

EMAs bearish.
DOGEUSD 211122 4 Hourly Chart

Shiba Inu Coin (SHIB) Price Action

At the time of writing, SHIB was down 2.28% to $0.00000858. A bearish start to the day saw SHIB fall from an early high of $0.00000879 to a low of $0.00000841.

SHIB fell through the First Major Support Level (S1) at $0.00000855 before finding support.

SHIB sees early red.
SHIBUSD 211122 Daily Chart

Technical Indicators

SHIB needs to move through the $0.00000889 pivot to target the First Major Resistance Level (R1) at $0.00000911 and the Sunday high of $0.00000922. A return to $0.00000920 would signal a bullish afternoon session. However, any further contagion news would test buyer appetite.

In the case of an extended rally, SHIB would likely test the Second Major Resistance Level (R2) at $0.00000945 and resistance at $0.00000950. The Third Major Resistance Level (R3) sits at $0.00001001.

Failure to move through the pivot would leave the First Major Support Level (S1) at $0.00000855 in play. Barring another extended sell-off, SHIB should avoid sub-$0.00000800. The Second Major Support Level (S2) at $0.00000833 should limit the downside.

The Third Major Support Level (S3) sits at $0.00000777.

SHIB support levels in play.
SHIBUSD 211122 Hourly Chart

The EMAs send a bearish signal, with SHIB sitting below the 50-day EMA, currently at $0.00000928. This morning, the 50-day EMA slid back from the 100-day EMA, with the 100-day EMA falling back from the 200-day EMA. The signals were bearish.

A move through R1 ($0.00000911) would give the bulls a run at the 50-day EMA ($0.00000928) and R2 ($0.00000945). However, failure to move through the 50-day EMA would leave SHIB under pressure.

EMAs bearish.
SHIBUSD 211122 4 Hourly Chart

DOGE Struggles Continue with a Return to $0.10 in Twitter’s Hands

Key Insights:

  • Dogecoin (DOGE) and shiba inu coin (SHIB) had mixed fortunes on Friday, with DOGE falling for a third consecutive session.
  • Elon Musk and Twitter news updates weighed on DOGE, while SHIB found support from the broader crypto market.
  • However the technical indicators remain bearish, with the EMAs signaling further downside.

On Friday, dogecoin (DOGE) fell by 0.12%. Following a 1.05% loss on Thursday, DOGE ended the day at $0.0846. Notably, DOGE fell short of $0.090 for the third time in four sessions.

A bullish start to the day saw DOGE rise to an early morning high of $0.0869. Coming up short of the First Major Resistance Level (R1) at $0.0871, DOGE slid to a late afternoon low of $0.0836. However, steering clear of the First Major Support Level (S1) at $0.0823, DOGE revisited $0.0847 before falling back into negative territory.

Shiba inu coin (SHIB) rose by 0.44% on Friday. Partially reversing a 0.88% loss from Thursday, SHIB ended the day at $0.00000909.

Tracking the broader market, SHIB rose to an early morning high of $0.00000924. SHIB broke through the First Major Resistance Level (R1) at $0.00000921 before falling to a late afternoon low of $0.00000897. However, steering clear of the First Major Support Level (S1) at $0.00000889, SHIB revisited $0.00000910 before easing back.

Twitter news and a lack of progress toward crypto integration continued to weigh on DOGE. News of mass resignations was also DOGE negative. Elon Musk recently warned staff that bankruptcy was not out of the question.

The mass resignations came in response to Elon Musk reportedly giving ultimatums to do extremely hardcore work or get out.

While the current news is DOGE negative, completing the restructuring would likely allow Twitter to resume the crypto integration project, which would be DOGE positive.

Dogecoin (DOGE) Price Action

At the time of writing, DOGE was down 0.47% to $0.0842. A bearish start to the day saw DOGE fall from an early high of $0.0848 to a low of $0.0841.

DOGE on the back foot.
DOGEUSD 191122 Daily Chart

Technical Indicators

DOGE needs to move through the $0.0850 pivot to target the First Major Resistance Level (R1) at $0.0865 and the Friday high of $0.0869. A return to $0.0870 would signal a bullish afternoon session. However, the crypto news wires need to be crypto-friendly to support a breakout session.

In the event of an extended afternoon breakout session, the bulls could take a run at the Second Major Resistance Level (R2) at $0.0883 and $0.0900. The Third Major Resistance Level (R3) sits at $0.0916.

Failure to move through the pivot ($0.0850) would leave the First Major Support Level (S1) at $0.0832 in play. However, barring another extended sell-off, DOGE should avoid sub-$0.0800. The Second Major Support Level (S2) at $0.0817 should limit the downside.

The Third Major Support Level (S3) sits at $0.0784.

DOGE support levels in play.
DOGEUSD 191122 Hourly Chart

The EMAs sent a bearish signal, with DOGE sitting below the 50-day EMA, currently at $0.0881. The 50-day EMA pulled back from the 200-day EMA, with the 100-day EMA narrowing to the 200-day EMA. The price signals were bearish.

A move through R1 ($0.0865) would give the bulls a run at the 50-day EMA ($0.0881) and R2 ($0.0883). However, failure to move through the 50-day EMA would leave DOGE under pressure.

EMAs remain bearish.
DOGEUSD 191122 4 Hourly Chart

Shiba Inu Coin (SHIB) Price Action

At the time of writing, SHIB was flat at $0.00000909. A mixed start to the day saw SHIB fall to an early low of $0.00000907 before recovering.

SHIB holds steady.
SHIBUSD 191122 Daily Chart

Technical Indicators

SHIB needs to move through the $0.00000910 pivot to target the First Major Resistance Level (R1) at $0.00000923 and the Friday high of $0.00000924. A return to $0.00000925 would signal a bullish afternoon session. However, any further contagion news would test buyer appetite.

In case of an extended rally, SHIB would likely test the Second Major Resistance Level (R2) at $0.00000937 and resistance at $0.00000950. The Third Major Resistance Level (R3) sits at $0.00000964.

Failure to move through the pivot would leave the First Major Support Level (S1) at $0.00000896 in play. Barring another extended sell-off, SHIB should avoid sub-$0.00000885 and the Second Major Support Level (S2) at $0.00000883.

The Third Major Support Level (S3) sits at $0.00000856.

SHIB support levels in play below the pivot.
SHIBUSD 191122 Hourly Chart

The EMAs send a bearish signal, with SHIB sitting below the 50-day EMA, currently at $0.00000946. This morning, the 50-day EMA slid back from the 100-day EMA, with the 100-day EMA falling back from the 200-day EMA. The signals were bearish.

A move through R1 ($0.00000923) would give the bulls a run at R2 ($0.00000937) and the 50-day EMA ($0.00000946). However, failure to move through the 50-day EMA would leave SHIB under pressure.

EMAs bearish.
SHIBUSD 191122 4 Hourly Chart

Layoffs in the Tech Industry on the Rise

Big Tech firms have dominated the US economy for the last decade. Apple, Amazon, Alphabet, and Microsoft have all surpassed the trillion-dollar value threshold, making them some of the most valuable companies in modern history.

However, during the last 12 months, cracks have started to appear in that domination. Industry leaders started issuing cutback warnings, and companies like Google, Microsoft, and Facebook implemented hiring freezes on the down low. The companies also issued conflicting signals during the summer, as economic confidence fluctuated between positive and negative.

Even further alarm has been raised in recent weeks as a wave of earnings announcements revealed that even the most enduring corporations are having significant difficulty maintaining the revenue growth they were able to display over the last few years.

Right now in response, across Silicon Valley and around the world, big tech companies are reducing their workforces in an effort to save expenses in preparation for a worldwide economic downturn.

Most of them are struggling with the same issues.

They grew too fast, inflation is too high, interest rates are rising, clients are low on purchasing power, borrowing to expand is more expensive, the strong dollar is eroding their profit margins, too many people were hired during the pandemic, supply chains were disruptive, and now growing recession fears.

Some in the industry are likening the recent activity to the dot.com crash from 20-odd years ago. Many are at least calling it the end of an era. Regardless, there will be plenty of talent looking for jobs in the near future, and it could just be the beginning.

Let’s take a look at just a few company examples that have been making the news over the last weeks.

Twitter

Elon Musk’s acquisition of Twitter hasn’t exactly been smooth sailing. Concerns about less moderating, fleeing advertisers, and threats to place the whole site behind a paywall followed the takeover, which was eventually achieved via a drawn-out litigation process.

Since then, it’s reportedly been losing millions of dollars a day and has been delisted from the New York Stock Exchange.

One week after taking control, on November 3rd, news sites began reporting that Musk wanted to lay off half of Twitter’s 7,500 employees.

Former Twitter CEO, CFO, director of legal policy and safety, and chief marketing officer were among those who were terminated from their jobs. Twitter’s senior privacy, security, and compliance executives have also just recently left the company.

Up to this point, Twitter has had to lay off approximately 3,700 of its staff.

Meta

This week, Facebook CEO Mark Zuckerberg said that the company’s parent company, Meta, will be laying off 11,000 workers, or 13% of its worldwide workforce. This comes as the company this year so far has seen its share price plummet by nearly 70%.

In the third quarter, Meta’s revenue was down 4% year over year to $22.1 billion, while costs and expenditures increased 19%. In contrast to the previous year, operating income fell 46% to $5.66 billion. Net income for the three months of Q3 was $4.4 billion, down 52% from the previous year’s $9.8 billion.

Zuckerberg owned up to the layoffs in a statement released by Meta, saying that he built the company too big and too quickly. He stated that he was misled by the sudden boom brought on by the pandemic and that he expected it to continue long after the outbreak.

He responded to the trend by increasing his workforce significantly. Ad spending has been falling, and Apple’s privacy update has gone into effect, so the company’s income can’t sustain the same investment in expansion and employees it had planned for before.

He went on to say that Meta would be taking “steps to become a leaner and more efficient company” Among these measures include cutting down on team budgets, eliminating perks, giving up certain office leases, and “extending our hiring freeze through Q1.”

Meta weekly chart – Source: ActivTrader platform from ActivTrades

Amazon

With online sales slowing, Amazon has seen its share price drop by more than 40% this year. This week, it was reported by The New York Times that the business intends to shed 10,000 employees, or around 3% of its workforce.

According to its Q3 earnings, the company reported that it had actually fared quite well compared to many of its tech peers, but was still below market expectations. Net sales in the third quarter were $127.1 billion, up 19% year over year.

The company hired thousands of new staff during the boom times of the pandemic, but is now having to come to terms with slowing demand. Recently they implemented a hiring freeze while stopping some of its warehouse expansions. Additionally, the company had stopped working on concepts like a robot that would deliver packages personally.

Jeff Bezos, the founder and CEO of Amazon, issued a warning last month, stating that the US economy was telling people to “batten down the hatches.”

Amazon weekly chart – Source: Online trading platform from ActivTrades

Disclaimer

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 85% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

ActivTrades Corp is authorised and regulated by The Securities Commission of the Bahamas. ActivTrades Corp is an international business company registered in the Commonwealth of the Bahamas, registration number 199667 B.

The information provided does not constitute investment research. The material has not been prepared in accordance with the legal requirements designed to promote the independence of investment research and as such is to be considered to be a marketing communication.

All information has been prepared by ActivTrades (“AT”). The information does not contain a record of AT’s prices, or an offer of or solicitation for a transaction in any financial instrument. No representation or warranty is given as to the accuracy or completeness of this information.

Any material provided does not have regard to the specific investment objective and financial situation of any person who may receive it. Past performance is not a reliable indicator of future performance. AT provides an execution-only service. Consequently, any person acting on the information provided does so at their own risk.

DOGE Targets a Return to $0.10 on Elon Musk Plug and Twitter Plans

Key Insights:

  • Dogecoin (DOGE) bucked the broader market trend on Saturday, while shiba inu coin (SHIB) fell for the seventh time in eight sessions.
  • News of an FTX hack left SHIB in the red, while an Elon Musk plug delivered a bullish DOGE session.
  • However, the technical indicators remain bearish, with the EMAs signaling further losses.

On Saturday, dogecoin (DOGE) rose by 3.66%. Partially reversing a 5.25% loss from Friday, DOGE ended the day at $0.08790. Notably, DOGE ended the day at sub-$0.10 for the fifth consecutive session.

A bearish start to the day saw DOGE fall to a mid-morning low of $0.0783. Finding support at the First Major Support Level (S1) at $0.0786, DOGE rallied to a late morning high of $0.0948. DOGE briefly broke through the First Major Resistance Level (R1) at $0.0921 before ending the day at sub-$0.0900.

Shiba inu coin (SHIB) fell by 3.24% on Saturday. Following a 3.14% loss on Friday, SHIB ended the day at $0.00000955.

A bearish start to the day saw SHIB fall to a mid-morning low of $0.00000925. SHIB fell through the First Major Support Level (S1) at $0.00000935 before rising to a late morning high of $0.00000992. However, falling short of the First Major Resistance Level (R1) at $0.00001042, SHIB slipped back to end the day at $0.00000955.

Elon Musk delivered a DOGE boost on Saturday. Discussing the FTX collapse on Twitter Space, Musk plugged dogecoin, “DOGE to the Moon.”

Twitter (TWTR) remains the key price driver for DOGE. Investors anticipate the resumption of the crypto integration plan, which would bring DOGE on board and drive adoption.

Earlier this month, Twitter paused crypto integration plans, sending DOGE tumbling ahead of the FTX collapse, but a resumption is likely, which has cushioned the downside.

While DOGE found support, SHIB saw yet more losses. FTX news updates continued to pressure SHIB and the broader crypto market. On Saturday, news hit the wires of an FTX hack, with FTX affirming unauthorized account activity.

Today, FTX remains the focal point, with contagion news likely to put DOGE and SHIB under selling pressure.

Dogecoin (DOGE) Price Action

At the time of writing, DOGE was up 1.02% to $0.0888.

DOGE holds steady.
DOGEUSD 131122 Daily Chart

Technical Indicators

DOGE needs to avoid the $0.0870 pivot to target the First Major Resistance Level (R1) at $0.0957. A move through the Saturday high of $0.0948 would signal a possible breakout. However, FTX updates need to be crypto-friendly to support a return to $0.09.

In the event of an extended afternoon breakout session, the bulls could take a run at the Second Major Resistance Level (R2) at $0.1035. The Third Major Resistance Level (R3) sits at $0.1200.

A fall through the pivot ($0.0870) would bring the First Major Support Level (S1) at $0.0792 into play. However, barring another extended sell-off, DOGE should avoid sub-$0.0750 and the Second Major Support Level (S2) at $0.0705.

The Third Major Support Level (S3) sits at $0.0540.

DOGE resistance levels in play above the pivot.
DOGEUSD 131122 Hourly Chart

The EMAs sent a bearish signal, with DOGE sitting below the 200-day EMA, currently at $0.0900. The 50-day EMA pulled back from the 100-day EMA, with the 100-day EMA narrowing to the 200-day EMA. The price signals were bearish.

A move through the 200-day EMA ($0.0900) would bring R1 ($0.0957) and the 50-day EMA ($0.0965) into play. However, failure to move through the 200-day EMA ($0.0900) would bring S1 ($0.0792) into view.

EMAs bearish.
DOGEUSD 131122 4 Hourly Chart

Shiba Inu Coin (SHIB) Price Action

At the time of writing, SHIB was up 1.15% to $0.00000966. A mixed start to the day saw SHIB fall to an early low of $0.00000949 before rising to a high of $0.00000968.

SHIB finds support.
SHIBUSD 131122 Daily Chart

Technical Indicators

SHIB needs to avoid the $0.00000957 pivot to target the First Major Resistance Level (R1) at $0.00000990 and the Saturday high of $0.00000992. A move through the Saturday high of $0.00000992 would signal a bullish afternoon session.

In case of an extended rally, SHIB would likely test the Second Major Resistance Level (R2) at $0.00001024. The Third Major Resistance Level (R3) sits at $0.00001091.

A fall through the pivot would bring the First Major Support Level (S1) at $0.00000923 into play. Barring another extended sell-off, SHIB should avoid sub-$0.00000900 and the Second Major Support Level (S2) at $0.00000890.

The Third Major Support Level (S3) sits at $0.00000823.

SHIB resistance levels in play above the pivot.
SHIBUSD 131122 Hourly Chart

The EMAs send a bearish signal, with SHIB sitting below the 50-day EMA, currently at $0.00001051. This morning, the 50-day EMA fell back from the 100-day EMA, with the 100-day EMA easing back from the 200-day EMA. The signals were bearish.

A move through R1 ($0.00000990) would give the bulls a run at R2 ($0.00001024) and the 50-day EMA ($0.00001051). However, failure to move through the 50-day EMA would leave SHIB under pressure.

EMAs bearish.
SHIBUSD 131122 4 Hourly Chart

DOGE and SHIB Price Action in the Hands of Twitter and Elon Musk News

Key Insights:

  • It was a bearish Sunday session, with dogecoin (DOGE) seeing red for the fourth session from five.
  • News of Twitter hitting pause on crypto integration plans continued to weigh, with bearish broader market sentiment adding to the downside.
  • However, the technical indicators remained bullish, with DOGE investors needing a return to $0.15 to retarget $0.20.

On Sunday, dogecoin (DOGE) slid by 7.79%. Following a 1.33% loss on Saturday, DOGE ended the week down 2.54% to $0.1148. Notably, DOGE avoided sub-$0.10 for the ninth consecutive session.

After a range-bound morning, DOGE rose to an early afternoon high of $0.1277. Coming up short of the First Major Resistance Level (R1) at $0.1335, DOGE slid to a final-hour low of $0.1119. DOGE fell through the First Major Support Level (S1) at $0.1177. Finding support at the Second Major Support Level (S2) at $0.1110, DOGE ended the session at $0.1148.

Shiba inu coin (SHIB) fell by 4.98% on Sunday. Following a 0.40% loss on Saturday, SHIB ended the week down 0.67% to $0.00001184.

Tracking DOGE movements, SHIB rose to an early afternoon high of $0.00001290. Coming up short of the First Major Resistance Level (R1) at $0.00001305, SHIB slid to a final-hour low of $0.00001175. SHIB fell through the First Major Support Level (S1) at $0.00001201 to end the session at $0.00001184.

It was another quiet day on the crypto news wires. The lack of news left Twitter (TWTR) and Elon Musk in focus.

News of Twitter hitting pause on plans to build a crypto wallet to support the integration of DOGE and others was DOGE negative. Investor sentiment towards Elon Musk’s post-acquisition changes has also weighed on DOGE and SHIB.

Reports of advertisers jumping ship raise the prospect of sharp falls in revenue streams that could dampen the bullish expectation of DOGE adoption. It also remains to be seen how the new $8 fee for sought-after blue check verification marks will impact user numbers.

Dogecoin (DOGE) Price Action

At the time of writing, DOGE was up 2.39% to $0.1175. A mixed start to the day saw DOGE fall to an early low of $0.1142 before rising to a high of $0.1187.

DOGE on the move.
DOGEUSD 071122 Daily Chart

Technical Indicators

DOGE needs to move through the $0.1181 pivot to target the First Major Resistance Level (R1) at $0.1243 and the Sunday high of $0.1277. A return to $0.12 would signal a bullish day ahead. However, without any Elon Musk tweets, DOGE will sit in the hands of the broader crypto market and Twitter updates.

In the event of an extended afternoon breakout session, the bulls could take a run at the Second Major Resistance Level (R2) at $0.1339 and $0.1350. The Third Major Resistance Level (R3) sits at $0.1498.

Failure to move through the pivot ($0.1181) would leave the First Major Support Level (S1) at $0.1085 in play. However, barring an extended sell-off, DOGE should avoid sub-$0.1050 and the Second Major Support Level (S2) at $0.1023.

The Third Major Support Level (S3) sits at $0.0864.

DOGE support levels in play below the pivot.
DOGEUSD 071122 Hourly Chart

The EMAs sent a bullish signal, with DOGE sitting above the 100-day EMA, currently at $0.1057. The 50-day EMA narrowed to the 100-day EMA, while the 100-day EMA widened from the 200-day EMA. The price signals were mixed.

A DOGE move through the 50-day EMA ($0.1192) would support a breakout from R1 ($0.1243) to target R2 ($0.1339) and $0.14. However, a failure to move through the 50-day EMA ($0.1192) would bring S1 ($0.1085) and the 100-day EMA ($0.1057) into view.

EMAs bullish.
DOGEUSD 071122 4 Hourly Chart

Shiba Inu Coin (SHIB) Price Action

At the time of writing, SHIB was up 1.27% to $0.00001199. A mixed start to the day saw SHIB fall to an early low of $0.00001180 before rising to a high of $0.00001210.

SHIB finds early support.
SHIBUSD 071122 Daily Chart

Technical Indicators

SHIB needs to move through the $0.00001216 pivot to target the First Major Resistance Level (R1) at $0.00001258 and the Sunday high of $0.00001290. A return to $0.00001250 would signal a bullish afternoon session.

In case of an extended rally, SHIB would likely test the Second Major Resistance Level (R2) at $0.00001331 and resistance at $0.00001350. The Third Major Resistance Level (R3) sits at $0.00001446.

Failure to move through the pivot would leave the First Major Support Level (S1) at $0.00001143 in play. Barring an extended sell-off, SHIB should avoid sub-$0.000011. The Second Major Support Level (S2) at $0.00001101 should limit the downside.

The Third Major Support Level (S3) sits at $0.00000986.

SHIB support levels in play below the pivot.
SHIBUSD 071122 Hourly Chart

The EMAs send a bullish signal, with SHIB sitting above the 100-day EMA, currently at $0.00001175. This morning, the 50-day EMA flattened on the 100-day EMA, while the 100-day EMA pulled away from the 200-day EMA. The signals were bullish.

A move through the 50-day EMA ($0.00001217) would support a SHIB breakout from R1 ($0.00001258) to bring R2 (0.00001331) and $0.00001350 into view. However, a fall through the 100-day EMA ($0.00001175) would bring S1 ($0.00001143) and the 200-day EMA ($0.00001142) into view.

EMAs bullish.
SHIBUSD 071122 4 Hourly Chart

SHIB and DOGE are Back in the Red Awaiting Twitter Crypto Wallet News

Key Insights:

  • It was a bearish Saturday session, with dogecoin (DOGE) seeing red for the third session from four.
  • The crypto news wires were silent on the Twitter (TWTR) and DOGE link, leaving investors to continue locking in profits from the week.
  • However, the technical indicators remained bullish, with DOGE investors still eying a return to $0.20.

On Saturday, dogecoin (DOGE) fell by 1.33%. Partially reversing a 2.85% gain from Friday, DOGE ended the day at $0.12444. Notably, DOGE avoided sub-$0.10 for the eighth consecutive session.

A bullish start to the day saw DOGE rise to an early high of $0.1358. DOGE broke through the First Major Resistance Level (R1) at $0.1317 before sliding to a final-hour low of $0.1200. However, steering clear of the First Major Support Level (S1) at $0.1180, DOGE found support to end the day at $0.1244.

Shiba inu coin (SHIB) slipped by 0.40% on Saturday. Partially reversing a 6.65% rally from Friday, SHIB ended the day at $0.00001246.

Tracking DOGE movements, SHIB rose to an early high of $0.00001318. Coming up short of the First Major Resistance Level (R1) at $0.00001357, SHIB slid to a final-hour low of $0.00001214. Steering clear of the First Major Support Level (S1) at $0.00001151, SHIB ended the session at $0.00001246.

It was a quiet day on the crypto news wires. A lack of updates from Elon Musk on plans for DOGE and SHIB left investors to look in profits from the week. Earlier this week, reports of Twitter hitting pause on crypto integration plans abruptly halted DOGE’s move towards $0.20.

However, Elon Musk has been busy making changes to the newly acquired Twitter (TWTR). On Saturday, Reuters reported Twitter updating its app in the App Store ‘to begin charging $8 for sought-after blue check verification marks.’

The $8 fee will raise expectations of Twitter accepting DOGE for payments.

Dogecoin (DOGE) Price Action

At the time of writing, DOGE was down 0.86% to $0.1234. A mixed start to the day saw DOGE rise to an early high of $0.1249 before falling to a low of $0.1221.

DOGE under pressure.
DOGEUSD 061122 Daily Chart

Technical Indicators

DOGE needs to move through the $0.1268 pivot to target the First Major Resistance Level (R1) at $0.1335 and the Saturday high of $0.1358. A return to $0.13 would signal a bullish day ahead. However, without any Elon Musk tweets, DOGE will sit in the hands of the broader crypto market.

In the event of an extended afternoon breakout session, the bulls could take a run at the Second Major Resistance Level (R2) at $0.1426 and $0.15. The Third Major Resistance Level (R3) sits at $0.1584.

Failure to move through the pivot ($0.1268) would leave the First Major Support Level (S1) at $0.1177 in play. However, barring an extended sell-off, DOGE should avoid sub-$0.11. The Second Major Support Level (S2) at $0.1110 should limit the downside.

The Third Major Support Level (S3) sits at $0.0951.

DOGE support levels in play below the pivot.
DOGEUSD 061122 Hourly Chart

The EMAs sent a bullish signal, with DOGE sitting above the 50-day EMA, currently at $0.1188. The 50-day EMA pulled away from the 100-day EMA, with the 100-day EMA widening from the 200-day EMA. The price signals were bullish.

A DOGE hold above the 50-day EMA ($0.1188) would support a breakout from R1 ($0.1335) to target R2 ($0.1426) and $0.15. However, a fall through the 50-day EMA ($0.1188) would bring S1 ($0.1177) into view.

EMAs are bullish.
DOGEUSD 061122 4 Hourly Chart

Shiba Inu Coin (SHIB) Price Action

At the time of writing, SHIB was down 0.96% to $0.00001234. A mixed start to the day saw SHIB rise to an early high of $0.00001251 before falling to a low of $0.00001232.

SHIB under pressure.
SHIBUSD 061122 Daily Chart

Technical Indicators

SHIB needs to move through the $0.00001259 pivot to target the First Major Resistance Level (R1) at $0.00001305 and the Saturday high of $0.00001318. A return to $0.000013 would signal a bullish afternoon session.

In case of an extended rally, SHIB would likely test the Second Major Resistance Level (R2) at $0.00001363 and resistance at $0.000014. The Third Major Resistance Level (R3) sits at $0.00001467.

Failure to move through the pivot would leave the First Major Support Level (S1) at $0.00001201 in play. Barring an extended sell-off, SHIB should avoid sub-$0.00001150. The Second Major Support Level (S2) at $0.00001155 should limit the downside.

The Third Major Support Level (S3) sits at $0.00001051.

SHIB support levels in play below the pivot.
SHIBUSD 061122 Hourly Chart

The EMAs send a bullish signal, with SHIB sitting above the 100-day EMA, currently at $0.00001213. This morning, the 50-day EMA pulled away from the 100-day EMA, with the 100-day EMA widening from the 200-day EMA. The signals were bullish.

Avoiding the 50-day EMA ($0.00001213) would support a SHIB breakout from R1 ($0.00001305) to bring R2 (0.00001363) and $0.14 into view. However, a fall through the 50-day EMA ($0.00001213) would bring S1 ($0.00001201) and the 100-day EMA ($0.00001167) into view. The 200-day EMA sits at $0.00001136.

EMAs bullish.
SHIBUSD 061122 4 Hourly Chart

Investors Await the Critical October Employment Report

Economy

Wall Street expects the jobs report to show a gain somewhere between +200,00 to +230,00, versus +263,000 in September with the unemployment rate expected to tick up to 3.6% from 3.5% previously.

Maybe more importantly, wage gains are expected to fall back to a year-over-year rate of +4.7% from +5% last month. A report that is roughly in-line with expectations may not do much to rally the bulls, many of which have moved to the sidelines after the Federal Reserve on Wednesday deflated hopes that the central bank was nearing the end of its tightening cycle.

The bulls are now struggling to recalibrate, with not much in the way of positive news to help the effort. The 2-year treasury yield is +4.7% and still climbing.

Keep in mind, the 2-year was at less than 0.5% a year ago. At the same time, we are now starting to hear of some big important companies laying people off and freezing on new hires.

Earnings

Apple has paused hiring for most major jobs, Coca-Cola is offering voluntary buyouts, e-commerce platform Stripe and ride-hailing service Lyft are the latest technology companies to lay off staff on Thursday, while Amazon said it would pause new hires in its corporate workforce, and Twitter is now set to lay off up to half of its staff today under new owner Elon Musk. Adding to the wall of worry has been little to no signs that inflation is retreating and a disappointing Q3 earnings season that has highlighted the ongoing headwinds that continue to erode corporate profits.

Bottom line, the concerns and uncertainties keep piling up and it’s becoming a much steeper hill for bulls to climb.

Midterm Elections

Turning to next week, the midterm elections on Tuesday could bring some added volatility to stock markets.

Historically, stocks tend to gain after midterms regardless of which party ends up controlling Washington, so perhaps the market will get a little bear bounce.

Importantly, Federal Reserve policy is not impacted by changes to party control in the House or Senate so that is not a factor.

If Republicans end up with control of both houses, some think oil and gas companies could be a beneficiary. The most recent odds makers currently give the Republicans a very strong chance of sweeping both the House and the Senate. It sounds like control of Washington may come down to the races in Arizona, Georgia, and Pennsylvania.

Data to Watch

The other major highlight next week is the October Consumer Price Index (CPI) due out on Thursday.

There is not much data on the calendar next week otherwise with just Consumer Credit on Monday and Consumer Sentiment on Friday.

On the earnings front, results are due from Activision Blizzard, BioNTech, Diamondback Energy, Palantir, and Ryanair on Monday; Bayer, CNH Industrial, Disney, Global Foundries, Lucid, and Occidental Petroleum on Tuesday; Adidas, D.R. Horton, Rivian, and Roblox on Wednesday; and AstraZeneca, NIO, and Siemens on Thursday.

DOGE Return to $0.14 in the Hands of Elon Musk and the NASDAQ

Key Insights:

  • It was a bearish Thursday session, with dogecoin (DOGE) the worst performer from the top 100.
  • A lack of Elon Musk tweets left DOGE and SHIB on the back foot.
  • However, the technical indicators are bullish, with DOGE investors still eying a return to $0.20.

On Thursday, dogecoin (DOGE) fell by 3.95%. Following a 10.16% slide on Wednesday, DOGE ended the day at $0.1226. Notably, DOGE avoided sub-$0.10 for the fifth consecutive session and the fifth time since May.

A bullish start to the day saw DOGE rise to an early high of $0.1370. Coming up short of the First Major Resistance Level (R1) at $0.1431, DOGE slid to a late low of $0.1196. However, steering clear of the First Major Support Level (S1) at $0.1171, DOGE found late support to end the day at $0.1226.

Shiba inu coin (SHIB) slipped by 0.34% on Thursday. Following an 8.33% slide on Wednesday, SHIB ended the day at $0.00001173.

SHIB rose to an early high of $0.00001238. Coming up short of the First Major Resistance Level (R1) at $0.00001265, SHIB slid to a late low of $0.00001161. Steering clear of the First Major Support Level (S1) at $0.00001119, SHIB ended the session at $0.00001173.

There were no Elon Musk tweets or updates on Musk’s Twitter (TWTR) plans to provide direction. A second newsless session led DOGE and SHIB into the red for the second consecutive day.

US economic indicators provided modest support before investors locked profits for a second session. Later today, the US jobs report and the NASDAQ Composite Index will provide direction. However, Elon Musk remains the key driver.

Dogecoin (DOGE) Price Action

At the time of writing, DOGE was down 3.16% to $0.1188. A mixed start to the day saw DOGE rise to an early high of $0.1232 before falling to a low of $0.1155.

DOGE on the defensive.
DOGEUSD 041122 Daily Chart

Technical Indicators

DOGE needs to move through the $0.1264 pivot to target the First Major Resistance Level (R1) at $0.1333 and the Thursday high of $0.1370. A return to $0.13 would signal a bullish day ahead. However, without any Elon Musk tweets, DOGE will sit in the hands of US economic indicators and the NASDAQ Composite Index.

In the event of an extended afternoon breakout session, the bulls could take a run at the Second Major Resistance Level (R2) at $0.1439 and $0.15. The Third Major Resistance Level (R3) sits at $0.1614.

Failure to move through the pivot ($0.1264) would leave the First Major Support Level (S1) at $0.1158 in play. However, barring an extended sell-off, DOGE should avoid sub-$0.11 and the Second Major Support Level (S2) at $0.1089.

DOGE support levels in play.
DOGEUSD 041122 Hourly Chart

The EMAs sent a bullish signal, with DOGE sitting above the 50-day EMA, currently at $0.1147. The 50-day EMA pulled away from the 100-day EMA, with the 100-day EMA widening from the 200-day EMA. The price signals were bullish.

Avoiding S1 ($0.1158) and the 50-day EMA ($0.1147) would support a breakout from R1 ($0.1333) and a return to $0.14. However, a fall through S1 ($0.1158) and the 50-day EMA ($0.1147) would bring S2 ($0.1089) into view. The 200-day EMA sits at $0.08286.

EMAs bullish.
DOGEUSD 041122 4 Hourly Chart

Shiba Inu Coin (SHIB) Price Action

At the time of writing, SHIB was up 0.34% to $0.00001177. A mixed start to the day saw SHIB fall to an early low of $0.00001158 before rising to a high of $0.00001182.

SHIB finds early support.
SHIBUSD 041122 Daily Chart

Technical Indicators

SHIB needs to move through the $0.00001191 pivot to target the First Major Resistance Level (R1) at $0.00001220 and the Thursday high of $0.00001238. A return to $0.000012 would signal a bullish afternoon session.

In case of an extended rally, SHIB would likely test the Second Major Resistance Level (R2) at $0.00001268 and resistance at $0.000013. The Third Major Resistance Level (R3) sits at $0.00001345.

Failure to move through the pivot would leave the First Major Support Level (S1) at $0.00001143 in play. Barring an extended sell-off, SHIB should avoid sub-$0.000011. The Second Major Support Level (S2) at $0.00001114 should limit the downside.

The Third Major Support Level (S3) sits at $0.00001037.

SHIB support levels in play below the pivot.
SHIBUSD 041122 Hourly Chart

The EMAs send a bullish signal, with SHIB sitting above the 100-day EMA, currently at $0.00001189. This morning, the 50-day EMA flattened on the 100-day EMA, with the 100-day EMA flattening on the 200-day EMA. The signals were neutral.

A move through the 50-day EMA ($0.00001188) would support a SHIB breakout from R1 ($0.00001220) to bring R2 (0.00001268) and $0.13 into view. However, failure to move through the 50-day EMA ($0.00001188) would give the bears a run at the 100-day EMA ($0.00001143) and S1 ($0.00001143). The 200-day EMA sits at $0.00001121.

EMAs bullish.
SHIBUSD 041122 4 Hourly Chart

DOGE and SHIB Take a Breather as Investor Focus Shifts to the Fed

Key Insights:

  • It was a bullish Tuesday session, with dogecoin (DOGE) leading the top 100 at the start of the month.
  • Elon Musk tweets and hopes of DOGE integration into Twitter (TWTR) continued to drive DOGE and SHIB northwards despite a pickup in Fed fear.
  • The technical indicators are bullish, with DOGE investors eying a return to $0.20.

On Tuesday, dogecoin (DOGE) jumped by 12.03%. Following a 7.74% rally on Monday, DOGE ended the day at $0.1421. Notably, DOGE avoided sub-$0.10 for the third time since May.

A mixed start to the day saw DOGE fall to an early morning low of $0.1245. Steering clear of the First Major Support Level (S1) at $0.1166, DOGE surged to a late morning high of $0.1587. DOGE broke through the First Major Resistance Level (R1) at $0.1343 and the Second Major Resistance Level (R2) at $0.1418 to end the day at $0.1421.

Shiba inu coin (SHIB) rose by 3.30% on Tuesday. Following a 4.28% gain on Monday, SHIB ended the day at $0.00001284.

Tracking the broader market, SHIB fell to an early low of $0.00001227. Steering clear of the First Major Support Level (S1) at $0.00001170, SHIB rallied to a late morning high of $0.00001352. SHIB broke through the First Major Resistance Level (S1) at $0.00001318 before falling back to end the day at sub-$0.000013.

Elon Musk delivered DOGE and SHIB price support on Tuesday. Following the acquisition of Twitter (TWTR), Elon Musk took to Twitter on Tuesday, tweeting a picture of a Shiba Inu wearing a Twitter-T. The tweet fueled expectations of Twitter adding DOGE as a means of payment and possibly more.

The shift in sentiment towards DOGE and SHIB is evident with the uptrend in DOGE holders. According to CoinMarketCap, the number of DOGE addresses stands at 4,456,510 compared with 4,393,603 in early August.

SHIB has seen a less steep rise in holders, up from 1,200,616 on August 5 to 1,232,225 on November 1.

Investors are hoping DOGE and SHIB see greater adoption via the Twitter platform, supporting an uptrend in holders.

However, there were no updates today, leaving DOGE and SHIB in the hands of the broader crypto market. Fed fear weighed on the crypto market this morning, with the market cap down $5.8 billion to $966.6 billion.

Later today, the Fed monetary policy decision and press conference will influence. A hawkish Fed outlook would weigh on the NASDAQ Composite Index and the crypto market. However, Elon Musk will likely have more impact on the pair.

Dogecoin (DOGE) Price Action

At the time of writing, DOGE was down 2.30% to $0.13884. A mixed start to the day saw DOGE fall to an early low of $0.13530 before rising to a high of $0.14800.

DOGE on the defensive.
DOGEUSD 021122 Daily Chart

Technical Indicators

DOGE needs to move through the $0.1418 pivot to target the First Major Resistance Level (R1) at $0.1591. A return to $0.15 would signal another bullish day ahead. However, without any Elon Musk tweets, DOGE will sit in the hands of the Fed.

In the event of an extended afternoon breakout session, the bulls could take a run at the Second Major Resistance Level (R2) at $0.1760. The Third Major Resistance Level (R3) sits at $0.2103.

Failure to move through the pivot ($0.1418) would leave the First Major Support Level (S1) at $0.1248 in play. However, barring a Fed-fueled meltdown, DOGE should steer clear of sub-$0.12 and the Second Major Support Level (S2) at $0.1075.

DOGE support levels in play below the pivot.
DOGEUSD 021122 Hourly Chart

The EMAs sent a bullish signal, with DOGE sitting above the 50-day EMA, currently at $0.1084. The 50-day EMA pulled away from the 100-day EMA, with the 100-day EMA widening to the 200-day EMA. The price signals were bullish.

Avoiding the Major Support Levels and the 50-day EMA ($0.1084) would support a continued run at $0.20. However, a fall through S1 ($0.1248) would bring the 50-day EMA ($0.1084) and S2 ($0.1075) into view. The 200-day EMA sits at $0.07815.

EMAs bullish.
DOGEUSD 021122 4 Hourly Chart

Shiba Inu Coin (SHIB) Price Action

At the time of writing, SHIB was down 4.28% to $0.00001229. A mixed morning saw SHIB rise to an early high of $0.00001296 before falling to a low of $0.00001208. SHIB briefly fell through the First Major Support Level at $0.00001223.

SHIB on the back foot.
SHIBUSD 021122 Daily Chart

Technical Indicators

SHIB needs to move through the $0.00001288 pivot to target the First Major Resistance Level (R1) at $0.00001348 and the Tuesday high of $0.00001352. A return to $0.00001320 would signal a bullish afternoon session.

In case of an extended rally, SHIB would likely test the Second Major Resistance Level (R2) at $0.00001413 and resistance at $0.000015. The Third Major Resistance Level (R3) sits at $0.00001538.

Failure to move through the pivot would leave the First Major Support Level (S1) at $0.00001223 in play. Barring an extended sell-off, SHIB should avoid sub-$0.00001150. The Second Major Support Level (S2) at $0.00001163 should limit the downside.

The Third Major Support Level (S3) sits at $0.00001038.

SHIB support levels in play below the pivot.
SHIBUSD 021122 Hourly Chart

The EMAs send a bullish signal, with SHIB sitting above the 50-day EMA, currently at $0.00001185. This morning, the 50-day EMA pulled away from the 100-day EMA, with the 100-day EMA widening from the 200-day EMA. The signals were bullish.

A hold above the 50-day EMA ($0.00001185) would support a SHIB breakout from R1 ($0.00001348) to bring R2 (0.00001413) into view. However, a fall through S1 ($0.00001223) and the 50-day EMA ($0.00001185) would give the bears a run at S2 ($0.00001163).

EMAs bullish.
SHIBUSD 021122 4 Hourly Chart

DOGE Targets $0.20 Fueled by Elon Musk Tweet of a Shiba Inu in Twitter

Key Insights:

  • It was a bullish Monday session, with dogecoin (DOGE) enjoying a sixth bullish session from seven.
  • Investor sentiment toward the Twitter (TWTR) acquisition and the talk of a DOGE integration with TWTR delivered support.
  • The technical indicators are bullish, with DOGE investors eying a return to $0.20.

On Monday, dogecoin (DOGE) rallied by 7.74%. Reversing a 3.34% loss from Sunday, DOGE ended October up 105.65% to $0.1268. Notably, DOGE avoided sub-$0.10 for the second time since May.

A mixed start to the day saw DOGE fall to a mid-morning low of $0.1138. Steering clear of the First Major Support Level (S1) at $0.1047, DOGE rose to a late afternoon high of $0.1316. However, falling short of the First Major Resistance Level (R1) at $0.1372, DOGE slipped back to end the day at sub-$0.13.

Shiba inu coin (SHIB) rose by 4.28% on Monday. Partially reversing a 7.74% slide from Sunday, SHIB ended October up 9.81% to $0.00001243.

Tracking the broader market, SHIB fell to an early low of $0.00001171. Steering clear of the First Major Support Level (S1) at $0.00001103, SHIB rallied to an early afternoon high of $0.00001319. However, coming up short of the First Major Resistance Level (S1) at $0.00001337, SHIB slipped back to end the day at sub-$0.000013.

DOGE and SHIB resumed their respective upswings, supported by updates on Elon Musk’s Twitter (TWTR) acquisition.

On Monday, an exchange between Shibetoshi Nakamoto (Billy Markus) and Elon Musk delivered DOGE price support. Dogecoin co-founder Markus said,

“Sources: The new Twitter blue verification feature will have 69 tiers, with the top tier giving you a crown icon and the power to pan any user. It will cost $420,000,000. Elon Musk told Twitter employees if they don’t finish it by Monday, he will blast Nickleback in the office.”

Elon Musk responded by saying,

“Oh no, all our diabolical plans have been revealed!!”

Today, Elon Musk took to Twitter to deliver another DOGE breakout. Musk posted a picture of a Shiba Inu wearing a Twitter-T. The latest tweet fueled expectations of Twitter adding DOGE as a means of payment.

Dogecoin (DOGE) Price Action

At the time of writing, DOGE was up 15.89% to $.1470. A bullish morning saw DOGE jump from an early low of $0.1245 to a high of $0.1494.

DOGE broke through the First Major Resistance Level (R1) at $0.1343 and the Second Major Resistance Level (R2) at $0.1418.

DOGE on the move
DOGEUSD 011122 Daily Chart

Technical Indicators

DOGE needs to hold above R2 ($0.1419) to retarget the morning high of $0.1494 and $0.15. In the event of an extended afternoon breakout session, the Third Major Resistance Level (R3) at $0.1595 would likely come into play.

Chatter on the Twitter acquisition and any suggestions of accepting DOGE for payment would support a run at $0.20.

A fall through the Major Resistance Levels and the pivot ($0.1241) would bring the First Major Support Level (S1) at $0.1166 into play. However, barring an afternoon meltdown, DOGE should steer clear of sub-$0.11 and the Second Major Support Level (S2) at $0.1064.

DOGE resistance levels in play above the pivot.
DOGEUSD 011122 Hourly Chart

The EMAs sent a bullish signal, with DOGE sitting above the 50-day EMA, currently at $0.1001. The 50-day EMA pulled away from the 100-day EMA, with the 100-day EMA widening to the 200-day EMA. The price signals were bullish.

Avoiding the Major Support Levels and the 50-day EMA ($0.1001) would support a continued run at $0.20. However, a fall through S1 ($0.1166) would bring S2 ($0.1064) and the 50-day EMA ($0.1001) into view. The 200-day EMA sits at $0.07440.

EMAs bullish.
DOGEUSD 011122 4 Hourly Chart

Shiba Inu Coin (SHIB) Price Action

At the time of writing, SHIB was up 5.31% to $0.00001309. A mixed start to the day saw SHIB fall to an early low of $0.00001227 before rising to a high of $0.00001320.

SHIB tested the First Major Resistance Level (R1) at $0.00001318 before easing back.

SHIB on the move.
SHIBUSD 011122 Daily Chart

Technical Indicators

SHIB needs to avoid the $0.00001244 pivot to retarget the First Major Resistance Level (R1) at $0.00001318 and the morning high of $0.00001320. A return to $0.00001320 would signal a bullish afternoon session.

In case of an extended rally, SHIB would likely test the Second Major Resistance Level (R2) at $0.00001392 and resistance at $0.000015. The Third Major Resistance Level (R3) sits at $0.00001540.

A fall through the pivot would bring the First Major Support Level (S1) at $0.00001170 into play. Barring an extended sell-off, SHIB should avoid sub-$0.000011 and the Second Major Support Level (S2) at $0.00001096.

The Third Major Support Level (S3) sits at $0.00000948.

SHIB resistance levels in play above the pivot.
SHIBUSD 011122 Hourly Chart

The EMAs send a bullish signal, with SHIB sitting above the 50-day EMA, currently at $0.00001165. This morning, the 50-day EMA pulled away from the 100-day EMA, with the 100-day EMA widening from the 200-day EMA. The signals were bullish.

The bullish cross of the 100-day EMA through the 200-day EMA supports a SHIB return to $0.00001350 to bring R2 ($0.00001392) and $0.000015 into view. However, a fall through S1 ($0.00001170) and the 50-day EMA ($0.00001165) would give the bears a run at the 100-day ($0.00001117) and the 200-day ($0.00001104).

EMAs bullish.
SHIBUSD 011122 4 Hourly Chart

DOGE and SHIB Find Early Support, with DOGE Eying a Return to $0.15

Key Insights:

  • It was a bearish Sunday, with dogecoin (DOGE) seeing red for the first time in six sessions.
  • While Elon Musk’s Twitter (TWTR) acquisition remains DOGE and SHIB positive, Fed Fear led to profit-taking ahead of the Monday session.
  • The technical indicators are bullish, with DOGE investors eying a return to $0.20.

On Sunday, dogecoin (DOGE) fell by 3.34%. Partially reversing Saturday’s 45.24% surge, DOGE ended the week up 94.97% to $0.1177. Notably, DOGE avoided sub-$0.10 for the first time since May.

A bullish start to the day saw DOGE rise to a mid-morning high of $0.1435. Coming up short of the First Major Resistance Level (R1) at $0.1552, DOGE fell to a late afternoon low of $0.1110. However, steering clear of the First Major Support Level (S1) at $0.0857, DOGE revisited $0.1199 before easing back.

Shiba inu coin (SHIB) slid by 7.74% on Sunday. Partially reversing a 10.33% rally from Saturday, SHIB ended the week up 17.21% to $0.00001192.

Tracking the broader market, SHIB rose to a mid-morning high of $0.00001393 before hitting reverse. Coming up short of the First Major Resistance Level (R1) at $0.00001489, SHIB slid to a late low of $0.00001159. However, steering clear of the First Major Support Level (S1) at $0.00001124, SHIB revisited $0.00001199 before easing back.

Bearish investor sentiment from the broader crypto market left DOGE and SHIB in the red for the session. However, the downside was modest relative to the gains from the week. Elon Musk’s acquisition of Twitter (TWTR) supports further price gains. Investors anticipate Twitter to accept DOGE and SHIB payments.

With monetizable daily active users exceeding 200 million, accepting DOGE and SHIB payments on Twitter should see a sharp increase in adoption. As of October 30, the combined number of DOGE and SHIB holders stood at 5.68 million.

While investor sentiment toward the Wednesday Fed policy decision will test buyer appetite, the Twitter story remains bullish for DOGE and SHIB.

Dogecoin (DOGE) Price Action

At the time of writing, DOGE was up 3.00% to $0.1213. A mixed start to the day saw DOGE fall to an early low of $0.1166 before rising to a high of $0.1261.

DOGE finds early support.
DOGEUSD 311022 Daily Chart

Technical Indicators

DOGE needs to move through the $0.1213 pivot to target the First Major Resistance Level (R1) at $0.1372 and the Sunday high of $0.1435. A return to $0.13 would signal another breakout session.

In the case of another extended crypto market rally, DOGE should test the Second Major Resistance Level (R2) at $0.1566. The Third Major Resistance Level (R3) sits at $0.1891.

Failure to move through the pivot would leave the First Major Support Level (S1) at $0.1047 in play. However, barring an extended crypto sell-off, DOGE should steer clear of sub-$0.10 and the Second Major Support Level (S2) at $0.0916.

DOGE support levels in play below the pivot.
DOGEUSD 311022 Hourly Chart

The EMAs sent a bullish signal, with DOGE sitting above the 50-day EMA, currently at $0.08850. The 50-day EMA pulled away from the 100-day EMA, with the 100-day EMA widening from the 200-day EMA. The price signals were bullish.

Avoiding the Major Support Levels and the 50-day EMA ($0.08850) would support a breakout from R1 ($0.1372) to eye R2 ($0.1566). However, a fall through S1 ($0.1047) to sub-$0.10 would bring S2 ($0.0916) and the 50-day EMA ($0.08850) into view. The 200-day EMA sits at $0.06975.

EMAs bullish.
DOGEUSD 311022 4 Hourly Chart

Shiba Inu Coin (SHIB) Price Action

At the time of writing, SHIB was up 1.01% to $0.00001204. A mixed start to the day saw SHIB rise to an early high of $0.00001220 before falling to a low of $0.00001171.

SHIB on the move.
SHIBUSD 311022 Daily Chart

Technical Indicators

SHIB needs to move through the $0.00001248 pivot to target the First Major Resistance Level (R1) at $0.00001337 and the Sunday high of $0.00001393. A return to $0.000013 would signal another bullish session.

A broad-based crypto rally would see SHIB test the Second Major Resistance Level (R2) at $0.00001482 and resistance at $0.000015. The Third Major Resistance Level (R3) sits at $0.00001716.

Failure to move through the pivot would leave the First Major Support Level (S1) at $0.00001103 in play. Barring an extended sell-off, SHIB should avoid sub-$0.000011 and the Second Major Support Level (S2) at $0.00001014.

The Third Major Support Level (S3) sits at $0.00000780.

SHIB support levels in play below the pivot.
SHIBUSD 311022 Hourly Chart

The EMAs send a bullish signal, with SHIB sitting above the 50-day EMA, currently at $0.00001131. This morning, the 50-day EMA pulled away from the 200-day EMA, with the 100-day EMA crossing through the 200-day EMA. The signals were bullish.

The bullish cross of the 100-day EMA through the 200-day EMA should support a SHIB return to $0.000013 to bring R1 ($0.00001337) and $0.000014 into view. However, a fall through the 50-day EMA ($0.00001131) would give the bears a run at S1 ($0.00001103), the 100-day ($0.00001092), and the 200-day ($0.00001091).

EMAs bullish.
SHIBUSD 311022 4 Hourly Chart

DOGE Eyes $0.20 as Investors Expect Twitter to Accept DOGE Payments

Key Insights:

  • It was a bullish Saturday session, with dogecoin (DOGE) leading the top 100 and shiba inu coin (SHIB) enjoying another breakout day.
  • Elon Musk’s Twitter (TWTR) acquisition sent DOGE to a high of $0.1524, with SHIB returning to $0.000015 before easing back.
  • The technical indicators are bullish, with DOGE investors eying a return to $0.20.

On Saturday, dogecoin (DOGE) surged by 45.24%. Following a 9.08% rally on Friday, DOGE ended the day at $0.1218. Notably, DOGE hit its highest level since April and wrapped up the day at $0.12 for the first time since May 8.

A range-bound start to the day saw DOGE fall to an early low of $0.08289. Steering clear of the First Major Support Level (S1) at $0.0747, DOGE surged to a mid-afternoon high of $0.1524. DOGE broke through the day’s Major Resistance Levels before sliding back to end the session at $0.1218. Despite the late fall, DOGE held above the Third Major Resistance Level (R3) at $0.1136.

Shiba inu coin (SHIB) rallied by 10.33% on Saturday. Following a 10.06% gain on Friday, SHIB ended the day at $0.00001292.

Tracking the broader market, SHIB fell to an early low of $0.00001154. Steering clear of the First Major Support Level (S1) at $0.00001061, SHIB jumped to a late afternoon high of $0.00001519. SHIB broke through the First Major Resistance Level (R1) at $0.00001251 and the Second Major Resistance Level (R2) at $0.00001331.

However, coming up against the Third Major Resistance Level (R3) at $0.00001521, SHIB slid back to end the day at $0.00001292. The Pullback saw SHIB fall through R2.

While hopes of a December Fed pivot delivered support, investor sentiment toward Musk’s Twitter (TWTR) acquisition and what it could mean for DOGE and SHIB provided support.

According to Reuters, the number of monetizable daily active Twitter users stood at 238 million in Q2 2022. Considering the number of DOGE (4.45 million) and SHIB ($1.23 million) wallet holders as of October 29, the option to pay with DOGE and SHIB could have a material impact on the number of wallet holders.

Barring adverse news, sentiment toward the acquisition should deliver further upsides near-term.

Dogecoin (DOGE) Price Action

At the time of writing, DOGE was down 0.60% to $0.1211. A mixed start to the day saw DOGE rise to an early high of $0.1232 before falling to a low of $0.1145.

DOGE under early pressure.
DOGEUSD 301022 Daily Chart

Technical Indicators

DOGE needs to avoid the $0.1190 pivot to target the First Major Resistance Level (R1) at $0.1552. A return to $0.13 would signal another breakout session.

In the case of another extended crypto market rally, DOGE should test the Second Major Resistance Level (R2) at $0.1885 and resistance at $0.020. The Third Major Resistance Level (R3) sits at $0.2580.

A fall through the pivot would bring the First Major Support Level (S1) at $0.0857 into play. However, barring an extended crypto sell-off, DOGE should steer clear of sub-$0.0800 and the Second Major Support Level (S2) at $0.0495.

DOGE resistance levels in play above the pivot.
DOGEUSD 301022 Hourly Chart

The EMAs sent a bullish signal, with DOGE sitting above the 50-day EMA, currently at $0.07959. The 50-day EMA pulled away from the 100-day EMA, with the 100-day EMA widening to the 200-day EMA. The price signals were bullish.

Avoiding S1 ($0.0857) and the 50-day EMA ($0.07959) would support a breakout from R1 ($0.1552) to eye R2 ($0.1885) and $0.20. However, a fall through S1 ($0.0857) would bring the 50-day EMA ($0.07959) into view. The 200-day EMA sits at $0.06654.

EMAs are bullish
DOGEUSD 301022 4 Hourly Chart

Shiba Inu Coin (SHIB) Price Action

At the time of writing, SHIB was down 1.32% to $0.00001275. A mixed start to the day saw SHIB rise to an early high of $0.00001297 before falling to a low of $0.00001258.

SHIB under early pressure.
SHIBUSD 301022 Daily Chart

Technical Indicators

SHIB needs to move through the $0.00001322 pivot to target the First Major Resistance Level (R1) at $0.00001489 and the Saturday high of $0.00001519. A return to $0.000013 would signal another bullish session.

A broad-based crypto rally would see SHIB test the Second Major Resistance Level (R2) at $0.00001687. The Third Major Resistance Level (R3) sits at $0.00002052.

Failure to move through the pivot would leave the First Major Support Level (S1) at $0.00001124 in play. Barring an extended sell-off, SHIB should avoid sub-$0.0000100 and the Second Major Support Level (S2) at $0.00000957.

The Third Major Support Level (S3) sits at $0.00000592.

SHIB support levels in play below the pivot.
SHIBUSD 301022 Hourly Chart

The EMAs send a bullish signal, with SHIB sitting above the 50-day EMA, currently at $0.00001105. This morning, the 50-day EMA pulled away from the 200-day EMA, with the 100-day EMA converging on the 200-day EMA. The signals were bullish.

A bullish cross of the 100-day EMA through the 200-day EMA would support a SHIB breakout from R1 ($0.00001489) to eye R2 ($0.00001687). However, a fall through S1 ($0.00001124) and the 50-day EMA ($0.00001105) would bring the 200-day ($0.00001083) and the 100-day ($0.00001075) EMAs into play.

EMAs bullish.
SHIBUSD 301022 4 Hourly Chart

ADA Price Prediction: Bulls to Retarget $0.440 to Bring $0.500 into View

Key Insights:

  • On Saturday, cardano (ADA) gained 3.70% to end the day at $0.420. Notably, ADA visited $0.440 for the first time since September 30.
  • Investor hopes of a December Fed pivot and improving sentiment toward the Cardano ecosystem delivered price support.
  • The technical indicators are bullish, with ADA sitting above the 200-day EMA to bring $0.50 into view.

On Saturday, ADA rose by 3.70%. Following a 4.38% rally from Friday, ADA ended the day at $0.420. Notably, ADA visited $0.440 for the first time since September 30 and wrapped up the day at $0.400 for the fourth time in five sessions.

After a range-bound morning, ADA fell to an early afternoon low of $0.401 before making a move. Steering clear of the First Major Support Level (S1) at $0.385, ADA rallied to a late afternoon high of $0.440.

ADA broke through the First Major Resistance Level (R1) at $0.418 and the Second Major Resistance Level (R2) at $0.431. However, a late pullback saw ADA fall back to sub-$0.415 before ending the day at $0.420. R1 pegged ADA back late in the day.

Market sentiment toward the Fed and the Cardano ecosystem continued to deliver price support.

Reaction to a Hoskinson Tweet Delivered a Return to $0.440

On Friday, Input Output HK (IOHK) released the weekly development update following Thursday’s October edition of the Cardano 360.

While the project numbers remained lackluster, investors responded favorably to news of the Hydra update. There has also been plenty of chatter over increased development activity on the network, suggesting that more upgrades and enhancements are on the horizon.

Key IOHK highlights included,

  • Ongoing work on core technology improvements.
  • New Daedalus pre-production version released.
  • Marlowe Runtime used to execute Actus contracts.
  • New HydraV1 specification updated.
  • Find9 ecosystem rewards distributed.

Looking at the statistics,

  • 103 projects launched on Cardano, unchanged from the previous week.
  • Projects building on Cardano totaled 1,127, up by five from the previous week.

Before the Vasil hard fork, the number of projects launched on Cardano had stood at 98, with 1,100 projects building on the Cardano network.

With network updates and dogecoin (DOGE) in the spotlight, comments from Cardano founder Charles Hoskinson likely contributed to the upswing.

On Saturday, Hoskinson turned to Twitter users, asking,

“Should we pitch to Twitter a post-quantum ultrafast, and identity enables doge sidechain of Cardano custom built for social networks?”

This morning, 15,792 votes were in with 6-days remaining.

ADA Price Action

This morning, ADA was down 0.48% to $0.418. A mixed start to the day saw ADA rise to an early high of $0.421 before falling to a low of $0.418.

ADA on the defensive.
ADAUSD 301022 Daily Chart

Technical Indicators

ADA needs to move through the $0.420 pivot to target the First Major Resistance Level (R1) at $0.440 and the Saturday high of $0.440. A return to $0.430 would signal a possible breakout session. However, ADA would need the support of the broader market for a bullish session.

In case of an extended rally, the Second Major Resistance Level (R2) at $0.459 would likely come into play. The Third Major Resistance Level (R3) sits at $0.498.

Failure to move through the pivot would leave the First Major Support Level (S1) at $0.401 in play. However, barring an extended sell-off, ADA should avoid sub-$0.400 and the Second Major Support Level at $0.381. The Third Major Support Level (S3) sits at $0.342.

ADA support levels in play below the pivot.
ADAUSD 301022 Hourly Chart

This morning, the EMAs and the 4-hourly candlestick chart (below) sent a bullish signal.

ADA sat above the 200-day, currently at $0.399. The 50-day EMA pulled away from the 100-day EMA, with the 50-day and the 100-day EMAs narrowing to the 200-day EMA, delivering bullish signals.

A hold above S1 ($0.401) and the 200-day EMA ($0.399) would support a run at R1 ($0.440). However, a fall through S1 and the 200-day EMA would bring the 50-day EMA ($0.389) into view.

EMAs bullish.
ADAUSD 301022 4-Hourly Chart