- Dogecoin bulls push through crucial resistance levels, but volumes are too low for a new uptrend to be confirmed.
- Shiba Inu is consolidating at a critical resistance level with no clear direction for the day.
- Solana is bullish but needs to break 38.2% Fib resistance at $102.68 for an uptrend to be confirmed in the day.
Dogecoin
Dogecoin was range-bound for the better part of Monday. By the end of the day, it was trading pretty much where it had started.
Dogecoin started Monday trading bearish, a continuation of the selloff that had started on Sunday.
However, two hours into the day bears lost momentum after Dogecoin hit intra-day support at $0.1439.
The intra-day support proved to be quite strong, and Dogecoin oscillated around it for the better part of the morning.
Bull attempted to retake market control at midday, but just an hour later, Dogecoin bulls hit strong resistance at $0.1478 on the 23.6% Fibonacci.
Dogecoin then consolidated around the 23.6% Fibonacci resistance until early evening when bears regained control.
However, for the second time in the day, bears could not push Dogecoin through the intra-day support at $0.1439. This saw bulls regain control in the last 5-hours of the day, albeit with low volumes.
Dogecoin started Tuesday trading bearish after buying volumes dropped in the first hour of the day.
However, this did not last, and a bullish reversal followed by the third hour of the day. This saw Dogecoin push through the 23.6% Fibonacci resistance, with high volumes.
Volumes dropped shortly after, though, and Dogecoin has been consolidating at the 23.6% Fibonacci, now support, when going to press.
Source: TradingView
A glance at the day ahead
The key levels to watch are the 38.2% Fibonacci resistance at $0.1526 and the 23.6% Fibonacci support at $0.1478.
If bulls take control and push Dogecoin through the 38.2% Fibonacci resistance at $0.1526, the 50.0% Fibonacci resistance at $0.1565 would come into play. If the 50.0% Fibonacci resistance is broken, prices above $0.1601 could be within reach in the day.
However, if bears take control and push Dogecoin through the 23.6% Fibonacci support at $0.1478, the monthly support at $0.1401 would be within reach. If the monthly support is broken, prices below $0.1325 could be tested in the day.
On the other hand, if volumes drop, Dogecoin could trade between the 38.2% Fibonacci resistance at $0.1526 and the 23.6% Fibonacci support at $0.1478.
A glance at the technicals
Key resistance: 38.2% Fibonacci at $0.1526
Key support: 23.6% Fibonacci at $0.1478
Shiba Inu
Shiba Inu was range-bound for the better part of Monday and closed the day pretty much where it had started.
Shiba Inu started Monday trading bearish, continuing the selloff from Sunday trading.
The selloff was quite strong, and just 3-hours into the day, Shiba Inu had pushed through the 23.6% Fibonacci support at $0.00002930.
However, bearish momentum dropped shortly thereafter, and by daybreak, bulls had regained market control and pushed SHIB back through the 23.6% Fib support.
Bulls remained in control until early afternoon when SHIB hit strong resistance at $0.00003045 on the 38.2% Fibonacci.
The 38.2% Fibonacci resistance proved too strong for bulls, and bears took control of the market shortly after.
Bears were in control until the evening when Shiba Inu retested the 23.6% Fibonacci support at $0.00002930.
The 23.6% Fib proved too strong for bears, and a bullish reversal followed. By the end of the day, bulls were still in control, and volumes were on the rise.
Shiba Inu started Monday trading bullish, a continuation of the momentum it had built in late Monday trading.
However, at daybreak, SHIB hit strong resistance at $0.00003045 on the 38.2% Fibonacci. Shiba Inu was consolidating at the 38.2% Fib resistance when going to press.
Source: TradingView
A glance at the day ahead
The key levels to watch are the 50.0% Fibonacci resistance at $0.00003138 and the 38.2% Fibonacci support at $0.00003045.
If bulls take control and push Shiba Inu through the 50.0% Fibonacci resistance at $0.00003138, the 61.8% Fibonacci resistance at $0.00003230 would come into focus. If it is broken, prices above $0.00003296 could be hit within the day.
However, if the 38.2% Fibonacci support at $0.0003045 is broken, the 23.6% Fibonacci support at $0.00002930 would be in focus. If the 23.6% Fib support is breached, prices below $0.00002797 could be tested in the day.
On the other hand, if volumes drop, Shiba Inu could trade between the 38.2% Fibonacci resistance at $0.00003045 and the 23.6% Fibonacci support at $0.00002930.
A glance at the technicals
Key resistance: 38.2% Fibonacci at $0.00003045
Key support: 23.6% Fibonacci at $0.00002930
Solana
Solana was bullish for the better part of Monday. By the end of the day, it was up by 8.5%.
Solana started Monday trading bearish, a continuation of Sunday’s bear trend. However, just two hours into the day, Solana hit strong monthly support at $90.63.
Solana bounced off the monthly support with high volumes. What followed was a bullish rally that lasted until late afternoon, when Solana hit strong resistance at $98.02 on the 23.6% Fibonacci.
The 23.6% Fibonacci resistance proved too strong, and bears took control until early evening. That’s when bulls regained control of the market and were in control for the rest of the evening.
Solana started Tuesday trading bullish, a continuation of Monday’s bull trend. Solana had blasted through the 23.6% Fibonacci resistance two hours into the day at $98.02.
However, Solana hit strong resistance at $102.60 on the 38.2% Fibonacci just before daybreak. When going to press, Solana was still consolidating below the 38.2% Fibonacci resistance at $102.60.
Source: TradingView
A glance at the day ahead
The main price levels to watch in the day are the 38.2% Fibonacci resistance at $102.60 and the 23.6% Fibonacci support at $98.02.
If bulls take control and push Solana through the 38.2% Fibonacci resistance at $102.60, the 50.0% Fibonacci resistance at $106.30 would come into focus. If the 50.0% Fibonacci resistance is broken, prices above $109.04 could be tested in the day.
However, if bears manage to push Solana through the 23.6% Fibonacci support at $98.02, prices below $93.07could easily be hit in the day.
On the other hand, if volumes drop in the day, Solana could trade between the 38.2%
Fibonacci resistance at $102.25 and the 23.6% Fibonacci support at $98.02.
A glance at the technicals
Key resistance: 38.2% Fibonacci at $102.60
Key support: 23.6% Fibonacci at $98.02