- Dogecoin trading at weekly support levels with low volumes.
- Shiba Inu is trading at weekly support but with volumes low to determine direction.
- Solana is trading at a key support level and with very low volumes.
Dogecoin
Dogecoin was bearish all through last week. By the end of the week, it was down by 7.89%.
Dogecoin started bullish last week, continuing the upside momentum that had started a week earlier.
However, by the end of the day, bulls hit strong resistance at $0.1692 on the 78.6% Fibonacci resistance.
Dogecoin bulls were not strong enough to push through this resistance, triggering a Tuesday selloff.
By the end of Tuesday, bears had almost canceled out the gains made on Monday. Bulls attempted to regain control of the market on Wednesday, but volumes were too low to sustain a bullish reversal.
What followed was a continuation of the selloff that had started on Tuesday. The selloff continued until Friday when Dogecoin hit strong weekly support at $0.1434.
The weekly support was quite strong, and Dogecoin bears failed to push through it on Saturday.
This saw bulls retake market control on Sunday, albeit with low volumes.
Dogecoin has started the week bearish after bulls failed to garner enough volumes in Sunday trading.
Bears were still in control when going to press, albeit with low volumes.
Source: TradingView
A glance at the week ahead
The key levels to watch are the 78.6% Fibonacci resistance at $0.1692 and the weekly support at $0.1434.
If bulls take control and push Dogecoin through the 78.6% Fibonacci resistance at $0.1692, the 61.8% Fibonacci resistance at $0.2082 would come into play. If it is broken, prices above $0.2258 could be hit in the week.
However, if bears take control and push Dogecoin through the weekly support at $0.1434, the monthly support at $0.1198 would come into play. If it is broken, prices below $0.1067 could be tested in the week.
On the other hand, if volumes drop, Dogecoin could trade between the 78.6% Fibonacci resistance at $0.1692 and the weekly support at $0.1434.
A glance at the technicals
Key resistance: 78.6% Fibonacci at $0.1692
Key support: Weekly support at $0.1434
Shiba Inu
Shiba Inu was bearish for the better part of last week. By the end of the week, Shiba Inu was down by 4%.
Shiba Inu started Monday trading bullish and with high volumes. However, towards the end of the day, bulls hit strong resistance at $0.00003469. The resistance was too strong that there was a minor retracement off the resistance in the last four hours of the day.
On Tuesday, bulls made a second attempt at 78.6% Fibonacci resistance but failed again. A similar attempt was made on the 78.6% Fibonacci was made on Wednesday but did not succeed either.
This saw bears take control on Thursday. The selloff accelerated on Friday, but bears hit strong weekly support at $0.00002817.
The $0.00002817 weekly support proved to be quite strong, and bulls attempted to regain market control on Saturday. Bulls were still in control on Sunday, albeit with low volumes.
Shiba Inu has started the new week bearish after buying volumes dropped in late Sunday trading. When going to press, bears were still in control, but volumes were low.
Source: TradingView
A glance at the week ahead
The key levels to watch are the 78.6% Fibonacci resistance at $0.00003469 and the weekly support at $0.00002817.
If bulls take control and push Shiba Inu through the 78.6% Fibonacci resistance at $0.00003469, the 61.8% resistance at $0.00004616 would come into focus. If the 61.8% Fibonacci is broken, prices above $0.00005130 could be possible within the week.
However, if the weekly support at $0.00002817 is breached, the monthly support at $0.00002007 would come into focus. If the monthly support is broken, prices below $0.00001078 would be possible in the week.
On the other hand, if volumes drop, Shiba Inu could trade between the 78.6% Fibonacci resistance at $0.00003469 and the weekly support at $0.00002817.
A glance at the technicals
Key resistance: 78.6% Fibonacci at $0.00003469
Key support: Weekly support at $0.00002817
Solana
Solana was strongly bearish all through last week. By the end of the week, it was down by 20%.
Solana started last week bullish, a continuation of the momentum it had built up in the previous week. However, bulls hit strong resistance at $119.11 on the 78.6% Fibonacci.
Bulls attempted to push Solana through the 78.6% Fibonacci resistance a second time on Tuesday but failed. What followed was a correction all through the day.
Bulls made another attempt to regain the market on Wednesday, but buying volumes were too low for them to make an impact.
This led to an accelerated selloff all through the remaining days of the week. By Sunday, Solana was trading at $91.87 weekly support.
Solana has started the new week trading at the weekly support. Bulls were trying to regain market control when going to press, but volumes were low.
Source: TradingView
A glance at the week ahead
The main price levels to watch in the day are the 78.6% Fibonacci resistance at $119.11 and weekly support at $91.87.
If bulls take control and push Solana through the 78.6% Fibonacci resistance at $119.11, the 61.8% Fibonacci resistance at $149.62 would come into focus. If the 61.8% Fibonacci resistance is broken, prices above $164.33 could be tested in the week.
However, if bears manage to push Solana through the weekly support at $91.87, the monthly support at $80.97 would come into play. If the monthly support gives way, prices below $64.63 could be seen in the week.
On the other hand, if volumes drop in the week, Solana could trade between the 78.6% Fibonacci resistance at $119.11 and the weekly support at $91.87.
A glance at the technicals
Key resistance: 78.6% Fibonacci at $119.11
Key support: Weekly support at $91.87