Technical analysis: DOGE, SHIB, BABYDOGE, CATE, FLOKI and SAITAMA (June

The market has recently faced constant crises. With the sell-off still ongoing, is there light at the end of the tunnel? This article will provide analysis.

Specifically, we will give an in-depth review of memecoins: DOGE, SHIB, BABYDOGE, CATE, FLOKI and SAITAMA.

DOGE / USDT

Looking at the 4-hour time frame, we can see that DOGE not only lost its main support but also disrupted its channel structure (which is inherently the logarithmic structure). From this point on, the token is supported in the $0.05 region. The question is whether we will see a lower level here or see a new peak?

Taking a closer look at the most recent price action, we can see that DOGE needs to do some work to attract the interest of speculators. After confirming support, DOGE needs to print at a higher level. If there is confirmation of support at this level, we can review the channel as resistance.

If this 4-hour frame is close to the area of interest, expectations will be at a higher level. However, if you refuse to reject this level, expect a June low.

SHIB / USDT

You can use logarithmic charts for a better view. SHIB still controls the bear market. The main support level in question has been broken.

Moving on to our most recent price action, we could see new lows in June. SHIB is currently fluctuating between the area of interest and at its lowest level in June. There has been no confirmation of support yet, hopefully we will see some more consolidation before the next big move.

If the 4-hour frame is close to our area of interest shown, hopefully we’ll see a push toward 970. However, if there is rejection from this area, expectations at the lowest level will continue.

BABYDOGE / USDT

Continuing with the logarithmic chart, however, BABYDOGE is in a corrective phase, more stable than most memecoins. The bulls are now looking to confirm higher lows.

Looking at the most recent price action, BABYDOGE broke through the resistance zone of 1,300. However, there have been some consolidations since then. Bulls need to confirm support at this level, otherwise expectations will see at a lower level.

The fact that the 4-hour frame near the new area of interest will be supported by the price creates a push towards the resistance zone of 1,400. However, if there is a rejection of this level, expect to see a sell-off for the support zone of 750.

CATE / USDT

On the left side of the chart, the structure leaves signs that the CATE remains in full control of the bearish price with no signs of a reversal.

Moving on to the most recent price action, we can see last week’s main support has been broken. There is no indication that the bulls will participate.

If the 4-hour frame is near the new area of interest, the expectation will push up to 4050. However, if there is a rejection of this level, expect to see new lows in June.

FLOKI / USDT

FLOKI has lost the main support level as mentioned. Since last week, we have seen a rejection from the resistance and the new low at 480. The Bear market remains in full control until the main support is regained.

Since the loss of levels, we have seen lower highs and lower lows. The bulls need to step in here or expect a stronger sell-off.

If the 4-hour frame is above the small resistance shown, expect to see the price at 650. However, the rejection of this level will trigger a new low in June.

SAITAMA / USDT

SAITAMA recently launched the second version of the token with 4-hour support that has been found.

Taking a closer look at recent price action, we can see that SAITAMA is looking to break its downtrend. The question is whether there is enough thrust to get this momentum. Bulls need to regain resistance as support first.

If the 4-hour frame is close above the new area of interest, expectations will be pushed to higher levels. However, if there is a rejection of this level, expect to see some further consolidation.

Simple summary of all charts

● DOGE has lost its primary support.

● The SHIB bears are back in full control.

● BABYDOGE continues to look for higher levels of low support.

● CATE shows no signs of price increase anywhere.

FLOKI still controls the bears.

● SAITAMA wants to break through the resistance to support.

What needs attention this week is whether the new bottoms are kept as support or not. The loss of these levels will take memecoins into even deeper abyss.

These are the subjective opinions of the writer!