- Dogecoin consolidates below key resistance and is yet to find direction.
- Shiba Inu is directionless but is holding firmly above a major support level.
- Solana bounces off key support, but volumes are pretty low.
Dogecoin
Dogecoin was bullish for most of Wednesday, albeit with low volumes. By the end of the day, Dogecoin was up by 3.5%.
Dogecoin started Wednesday trading range-bound between the 38.2% Fibonacci resistance at $0.1583 and the 50.0% Fibonacci support at $0.1536.
Range-bound trading continued until mid-morning when bulls took control and pushed Dogecoin through the 38.2% Fibonacci resistance at $0.1583.
This continued until early afternoon when Dogecoin bulls lost momentum slightly above the 38.2% Fibonacci resistance.
Bears were quite strong, but by early evening, they had failed to push Dogecoin through the 38.2% Fibonacci, which was now support at $0.1583.
Dogecoin then traded in a range above the 38.2% Fibonacci support for the rest of the evening.
Dogecoin started trading range-bound Thursday, but bearish volumes increased just two hours into the day. Bears were able to push Dogecoin through the 38.2% Fibonacci with ease.
However, selling volumes dropped after that, and Dogecoin started consolidating. When going to press, Dogecoin was still in consolidation just below the 38.2% Fibonacci, which is now a resistance level.
Source: TradingView
A glance at the day ahead
The key levels to watch are the 38.2% Fibonacci resistance at $0.1583 and the 50.0% Fibonacci support at $0.1536.
If bulls take control and push Dogecoin through the 38.2% Fibonacci resistance at $0.1583, the other major resistance level to watch would be the 23.6% Fibonacci resistance at $0.1639. If bulls break the 23.6% Fib resistance, prices above $0.1701 could be seen in the day.
However, if bears take control and push Dogecoin through the 50.0% Fibonacci support at $0.1536, the 61.8% Fibonacci at $0.1491 would come into play. If the 61.8% Fibonacci support gives way, prices below $0.1447 could be hit in the day.
On the other hand, if volumes remain low, Dogecoin could trade between the 38.2% Fibonacci resistance at $0.1539 and the 50.0% Fibonacci support at $0.1536.
A glance at the technicals
Key resistance: 38.2% Fibonacci at $0.1583
Key support: 50.0% Fibonacci at $0.1536
Shiba Inu
Shiba Inu was bullish for the better part of Wednesday, albeit with low volumes. Shiba Inu was up by 3.9% by the end of the day.
Shiba Inu started Wednesday trading bearish after hitting strong resistance at $0.00003164 on the 23.6% Fibonacci.
However, bulls regained momentum by the second hour of the day. This saw SHIB retest the 23.6% Fibonacci resistance twice before mid-morning but failed to break it.
It is only at mid-morning that bulls gained enough momentum to push SHIB through the 23.6% Fibonacci resistance.
Bulls remained in control until early evening, when buying volumes dropped. This saw Shiba Inu turn bearish throughout the evening, albeit with low volumes.
Shiba Inu started Thursday trading bearish, but volumes were low all morning. When going to press, bears had lost momentum, and bulls were regaining control.
Source: TradingView
A glance at the day ahead
The key levels to watch today are the monthly resistance at $0.00003522 and the 23.6% Fibonacci support at $0.00003164.
If bulls take control and push Shiba Inu through the monthly Fibonacci resistance at $0.00003164, prices above $0.00003654 could be tested within the day.
However, if the 23.6% Fibonacci support at $0.00003164 is broken, the 38.2% Fibonacci support at $0.00002942 would come into play. If the 38.2% Fibonacci support gives way, prices below $0.00002810 could be tested in the day.
On the other hand, if volumes remain low throughout the day, Shiba Inu could trade between the monthly resistance at $0.00003522 and the 23.6% Fibonacci support at $0.00003164.
A glance at the technicals
Key resistance: Monthly resistance at $0.00003522
Key support: 23.6% Fibonacci at $0.00003164
Solana
Solana had a mixed day on Wednesday and ended the day pretty much where it had started.
Solana started Wednesday trading bearish after hitting strong resistance at $115.29 on the 23.6% Fibonacci in late Tuesday trading.
Bears were in control for most of the morning but hit strong support at $111.18 on the 38.2% Fibonacci just before daybreak.
Bears attempted to push Solana through the 38.2% Fibonacci support but failed. What followed was a consolidation at this support until mid-morning.
It is at mid-morning that bulls took control and with high volumes. By early afternoon, Solana was trading at the 23.6% Fibonacci resistance. Bulls briefly pushed Solana through the 23.6% Fibonacci resistance but failed.
A brief correction followed, but bulls were back in control by late afternoon. Solana was back at the 23.6% Fibonacci resistance by the end of the day.
Solana started Thursday trading bearish after bulls lost momentum at the 23.6% Fib resistance in the last two hours of Wednesday trading.
The selloff was quite strong, and just before daybreak, Solana hit strong support at $111.18 on the 38.2% Fib support.
Solana had bounced off the 38.2% Fibonacci support when going to press, but volumes were low.
Source: TradingView
A glance at the day ahead
The key levels to watch in the day are the 23.6% resistance at $115.29 and the 38.2% Fibonacci support at $111.18.
If bulls take control and push Solana through the 23.6% Fibonacci resistance at $115.29, the monthly resistance at $121.90 would be within reach. If the monthly resistance is broken, prices above $124.55 could be possible in the day.
However, if bears manage to drive Solana through the 38.2% Fibonacci support at $111.18 the 50.0% Fibonacci support at $107.88 would be in focus. If it gives way, prices below $106.16 could be seen within the day.
On the other hand, if volumes don’t increase within the day, Solana could trade between the 23.6% Fibonacci resistance at $115.29 and the 38.2% Fibonacci support at $111.18.
A glance at the technicals
Key resistance: 23.6% Fibonacci at $115.29
Key support: 38.2% Fibonacci at $111.18