Dogecoin, Shiba Inu & Solana Daily Price Predictions – February 16, 2022

Crypto majors in consolidation and could break out in any direction

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Last Updated February 16th 2022
5 Min Read
  • Dogecoin is in consolidation and could break out in any direction.
  • Shiba Inu is trading at a key support level but could go any way depending on volumes.
  • Solana bounces off crucial support but is yet to show a clear direction for the day.

Dogecoin       

Dogecoin was slightly bullish all through Tuesday. By the end of the day, it was up by about 1%.

Dogecoin started Tuesday trading bullish and negated a minor correction in late Monday trading. Within the first hour of trading, Dogecoin had pushed through the 23.6% Fibonacci resistance at $0.1474.

However, volumes dropped shortly after, and Dogecoin fell back to the 23.6% Fibonacci, now support.

The 23.6% Fibonacci support proved too strong for bears, and Dogecoin bounced off it. Bulls remained in control until mid-morning when buying volumes dropped just below the 38.2% Fibonacci resistance at $0.1520.

Selling volumes were low too, and Dogecoin was range-bound for the rest of the day. However, in the last hour of the day, a surge in buying volumes saw Dogecoin test the 38.2% Fibonacci resistance at $0.1520.

Dogecoin started Wednesday trading bearish after bulls failed to push it through the 38.2% Fibonacci resistance within the first hour of the day.

When going to press, bears were still in control, but selling volumes declined.

DOGE/USD 1-hour chart 021622

Source: TradingView

A glance at the day ahead

The key levels to watch are the 38.2% Fibonacci resistance at $0.1520 and the 23.6% Fibonacci support at $0.1474.

If bulls take control and push Dogecoin through the 38.2% Fibonacci resistance at $0.1520, the 50.0% Fibonacci resistance at $0.1556 would come into focus. If the 50.0% Fibonacci resistance gives way, prices above $0.1589 could be tested in the day.

However, if bears take control and push Dogecoin through the 23.6% Fibonacci support at $0.1474, the monthly support at $0.1401 could be tested within the day. If the monthly support is broken, prices below $0.1325 could be possible within the day.

On the other hand, if volumes drop, Dogecoin could trade between the 38.2% Fibonacci resistance at $0.1520 and the 23.6% Fibonacci support at $0.1474.

A glance at the technicals

Key resistance: 38.2% Fibonacci at $0.1520

Key support: 23.6% Fibonacci at $0.1474

Shiba Inu

Shiba Inu was bullish all through Tuesday. By the end of the day, it was up by 1.5%.

Shiba Inu started Tuesday trading bullish, a continuation of the momentum built up in late Monday trading.

Just three hours into the day, Shiba Inu had pushed through the 38.2% Fibonacci resistance at $0.000003044.

However, volumes dropped shortly after, and Shiba Inu started trading in a range around the 38.2% Fibonacci until daybreak.

At this point, a surge in buying volumes saw Shiba Inu test the 50.0% Fibonacci resistance at $0.00003136 by mid-morning.

Bulls briefly pushed Shiba Inu through the 50.0% Fibonacci resistance but quickly lost momentum.

This saw bears regain control until early evening when Shiba Inu tested the 38.2% Fibonacci support at $0.00003044.

The 38.2% Fibonacci support proved too strong for bears, and SHIB bounced off it all through the evening. By the last hour of the day, Shiba Inu was close to retesting the 50.0% Fibonacci resistance at $0.00003136.

Shiba Inu started Wednesday trading bearish after bulls lost momentum in late just below the 50.0% Fibonacci resistance at $0.00003136.

SHIB was in the red all morning, and when going to press, it was trading at the 38.2% Fibonacci support at $0.00003044.

SHIB/USD 1-hour chart 021622

Source: TradingView

A glance at the day ahead

The key levels to watch are the 50.0% Fibonacci resistance at $0.00003136 and the 38.2% Fibonacci support at $0.00003044.

If bulls take control and push Shiba Inu through the 50.0% Fibonacci resistance at $0.00003136, the 61.8% Fibonacci resistance at $0.00003229 would come into play. If the 61.8% Fibonacci resistance is broken, prices above $0.00003333 could be tested in the course of the day. 

However, if the 38.2% Fibonacci support at $0.0003044 is broken, the 23.6% Fibonacci support at $0.00002929 would be in play. If the 23.6% Fib support gives way, prices below $0.00002881 could be seen within the day.

On the other hand, if volumes drop, Shiba Inu could trade between the 38.2% Fibonacci resistance at $0.00003044 and the 23.6% Fibonacci support at $0.00002929

A glance at the technicals

Key resistance: 50.0% Fibonacci at $0.00003136

Key support: 38.2% Fibonacci at $0.00003044

Solana

Solana had a slightly bullish day on Tuesday. By the end of the day, it was up by about 1%.

Solana started Tuesday trading bullish, continuing the upside momentum it had built up in late Monday trading.

Buying volumes surged in the second hour of the day and saw Solana push through the 23.6% Fibonacci resistance at $97.40 and test the 38.2% Fibonacci resistance at $101.99.

However, volumes dropped shortly after, and Solana consolidated around the 38.2% Fibonacci resistance at $101.99 until late in the evening.

That’s when bulls’ regained control again, and in the last hour of the day, pushed Solana to the 50.0% Fibonacci resistance at $105.69.

Solana started Wednesday trading bearish after bulls failed to push it through the 50.0% Fibonacci resistance at $105.69.

Solana was in the red until daybreak, when it hit strong support at $101.99 on the 38.2% Fibonacci support.

Solana had bounced off the 38.2% Fibonacci support when going to press, and buying volumes were on the rise.

SOL/USD 1-hour chart 021622

Source: TradingView

A glance at the day ahead

The main price levels to watch in the day are the 50.0% Fibonacci resistance at $105.69 and the 38.2% Fibonacci support at $101.99.

If bulls take control and push Solana through the 50.0% Fibonacci resistance at $105.69, the 61.8% Fibonacci resistance at $109.39 would come into play. If the 61.8% Fibonacci resistance is broken, prices above $111.91 could be seen in the day. 

However, if bears manage to push Solana through the 38.2% Fibonacci support at $101.99, prices below $98.56 could be tested in the course of the day.

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

Fibonacci resistance at $105.69 and the 38.2% Fibonacci support at $101.99.

A glance at the technicals

Key resistance: 50.0% Fibonacci at $105.69

Key support: 38.2% Fibonacci at $101.99