Dogecoin, Shiba Inu & Solana Daily Price Predictions – February 11, 2022

Crypto majors are yet to find direction as volumes drop.

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Last Updated February 11th 2022
5 Min Read
  • Dogecoin is still range-bound after yesterday’s selloff.
  • Shiba Inu is range-bound, but bulls are attempting to regain control.
  • Solana bounces off crucial support, but no clear uptrend yet.

Dogecoin

Dogecoin was bearish for the better part of Thursday. By the end of the day, it was down by 4%.

Dogecoin started Thursday trading in a consolidation around the 38.2% Fibonacci support at $0.1583.

This range-bound trading continued until midday, when bears gained control and high volumes.

Bearish momentum was so strong that within an hour, Dogecoin had tested and briefly pushed through the 50.0% Fibonacci support at $0.1536.

Bears almost pushed Dogecoin down to the 61.8% Fibonacci support at $0.1491 but failed.

Failure to test the 61.8% Fibonacci support triggered a bullish reversal.

What followed was a rally that saw Dogecoin test the 38.2% Fibonacci, now resistance, at $0.1583.

The 38.2% Fibonacci resistance proved too strong, though, and bears regained control for the second time in the day. By the end of the day, Dogecoin was close to retesting the 61.8% Fibonacci support at $0.1491.

Dogecoin started Friday trading bearish, a continuation of late Thursday’s selloff. However, two hours into the day, Dogecoin finally tested the 61.8% Fibonacci support at $0.1491.

However, this support proved quite strong, and Dogecoin bounced off it with high volumes. Bulls were still in control when going to press, but buying volumes were dropping.

DOGE/USD 1-hour chart 021122

Source: TradingView

A glance at the day ahead

The key levels to watch are the 50.0% Fibonacci resistance at $0.1536 and the 61.8% Fibonacci support at $0.1491.

If bulls take control and push Dogecoin through the 50.0% Fibonacci resistance at $0.1536, the 38.2% Fibonacci resistance at $0.1583 would come into focus. If it is broken, prices above $0.1616 could be tested in the day.

However, if bears take control and push Dogecoin through the 61.8% Fibonacci support at $0.1491, the 78.6% Fibonacci support at $0.1425 would come into focus. If it is broken, prices below $0.1394 could be seen in the day.

On the other hand, if volumes drop, Dogecoin could trade between the 50.0% Fibonacci resistance at $0.1536 and the 61.8% Fibonacci support at $0.1491.

A glance at the technicals

Key resistance: 50.0% Fibonacci at $0.1536

Key support: 61.8% Fibonacci at $0.1491

Shiba Inu

Shiba Inu was bearish for the better part of Thursday. By the end of the day, it was down by 6.2%.

Shiba Inu started Thursday trading directionless, continuing the price action from late Wednesday trading.

This continued until mid-morning, when selling volumes shot up. A selloff followed that saw Shiba Inu test and briefly push through the 23.6% Fibonacci support at $0.00003164 by midday.

However, bears lost momentum again, and bulls managed to push SHIB back above the 23.6% Fibonacci. Bullish price action did not last, though, as bears took control of the broader market.

This saw bears regain control for the rest of the day. By the end of the day Thursday, Shiba Inu was close to testing the 38.2% Fibonacci support at $0.00002942.

Shiba Inu started Thursday trading bullish after it bounced off the 38.2% Fibonacci support in early morning trading. When going to press, bulls were still in control, but volumes were in decline.

SHIB/USD 1-hour chart 021122

Source: TradingView

A glance at the day ahead

The key levels to watch are the 23.6% Fibonacci resistance at $0.00003164 and the 38.2% Fibonacci support at $0.00002942.

If bulls take control and push Shiba Inu through the 23.6% Fibonacci resistance at $0.00003164, the monthly resistance at $0.00003522 would come into play. If it is broken, prices above $0.00003654 could easily be tested in the day. 

However, if the 38.2% Fibonacci support at $0.00002942 gives way, the 50.0% Fibonacci support at $0.00002767 would come into focus. If the 50.0% Fib support breaks, prices below $0.00002656 could be seen in the day.

On the other hand, if volumes drop, Shiba Inu could trade between the 23.6% Fibonacci resistance at $0.00003164 and the 38.2% Fibonacci support at $0.00002942.

A glance at the technicals

Key resistance: 23.6% Fibonacci at $0.0003164

Key support: 38.2% Fibonacci at $0.00002942

Solana

Solana was bearish for the better part of Thursday. By the end of the day, it was down by 6%.

Solana started Thursday trading bearish, continuing the selloff that started in late Wednesday trading.

However, just 3 hours into the day, Solana hit strong support at $110.85 on the 38.2% Fibonacci support.

Solana bounced off this support, and by mid-morning, had retested the 23.6% Fibonacci, which was now resistance at $114.89.

The 23.6% Fib proved too strong for bulls, and a correction followed. The correction was so strong that Solana had crashed through multiple support levels by early afternoon and tested the 50.0% Fibonacci support at $107.61.

Bears briefly pushed Solana through the 50.0% Fib, but the move was quickly rejected. A mini-rally followed that saw Solana come close to retesting the 23.6% Fibonacci resistance at $114.89.

Buying volumes dropped, though, and bears regained control, and with high volumes. By the end of the day, Solana was close to testing the 61.8% Fibonacci support at $104.44.

Solana started Friday trading bearish, a continuation of late Thursday’s selloff. Just an hour into the day, it hit the 61.8% Fib support at $104.44.

Bears didn’t have the momentum to push Solana through this support. However, bulls were not that strong either, and Solana started consolidating around the 61.8% Fib support. When going to press, Solana was still trading at this support level.

SOL/USD 1-hour chart 021122

Source: TradingView

A glance at the day ahead

The main price levels to watch in the day are the 50.0% Fibonacci resistance at $107.61 and the 61.8% Fibonacci support at $104.22.

If bulls take control and push Solana through the 50.0% Fibonacci resistance at $107.61, the 38.2% Fibonacci resistance at $110.85 would come into play. If the 38.2% Fibonacci resistance is broken, prices above $113.17 could be seen in the day. 

However, if bears manage to push Solana through the 61.8% Fibonacci support at $104.22, the 78.6% Fibonacci support at $99.80 would come into play. If the 78.6% Fibonacci support breaks, prices below $96.43 could be tested in the day.

On the other hand, if volumes drop in the day, Solana could trade between the 50.0%

Fibonacci resistance at $107.61 and the 61.8% Fibonacci support at $104.22.

A glance at the technicals

Key resistance: 50.0% Fibonacci at $107.61

Key support: 61.8% Fibonacci at $104.22