Dogecoin, Shiba Inu & Solana Daily Price Predictions – February 17, 2022

Crypto majors range-bound and yet to show a clear direction for the day

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Last Updated February 17th 2022
5 Min Read
  • Dogecoin bounces off critical support levels, but volumes are too low to call a bullish reversal.
  • Shiba Inu has yet to find direction as it starts another day range-bound. 
  • Solana is range-bound and could break out in any direction. 

Dogecoin

Dogecoin was slightly bearish for the better part of Wednesday. By the end of the day, Dogecoin was down by 1.95%.

Dogecoin started Wednesday trading bearish after bulls hit strong resistance at $0.1521 on the 38.2% Fib in late Tuesday trading. 

Before daybreak, selling volumes increased, and bears pushed Dogecoin to the 23.6% Fibonacci support at $0.1475. 

However, this move was quickly rejected, and bulls attempted to regain control. Buying volumes were low, though, and bears were back in control by mid-morning. 

Bears were in control until early afternoon when Dogecoin hit and briefly pushed through the 23.6% Fibonacci support. 

Bears could not sustain this momentum, and bulls regained control until early evening when Dogecoin hit strong intra-day resistance at $0.1498. 

Bears attempted to regain control in the last two hours of the day, but their volumes were pretty low. 

Dogecoin started Thursday trading bullish, a continuation of the upside momentum that had started on Wednesday evening. 

However, just two hours into the day, Dogecoin hit strong intraday resistance at $0.1498. 

This saw bears take control all through the morning. When going to press, Dogecoin was trading at the 23.6% Fibonacci support at $0.1475. 

DOGE/USD 1-hour chart 021722

Source: TradingView

A glance at the day ahead

The key levels to watch are the intra-day resistance at $0.1498 and the 23.6% Fibonacci support at $0.1475.

If bulls take control and push Dogecoin through the intra-day resistance at $0.1498, the 38.2% Fibonacci resistance at $0.1521 would come into focus. If the 38.2% Fib resistance is broken, prices above $0.1545 could be tested in the day. 

However, if bears take control and push Dogecoin through the 23.6% Fibonacci support at $0.1475, prices below $0.1430 could be seen within the day. 

On the other hand, if volumes drop, Dogecoin could trade between the intra-day resistance at $0.1498 and the 23.6% Fibonacci support at $0.1475.

A glance at the technicals

Key resistance: Intra-day resistance at $0.1498

Key support: 23.6% Fibonacci at $0.1475

Shiba Inu 

Shiba Inu was range-bound all through Wednesday. By the end of the day, SHIB was trading pretty much where it had started the day. 

Shiba Inu started Wednesday trading bearish after bulls hit strong resistance at $0.00003124 on the 50.0% Fibonacci. 

Shiba Inu bears were in control, but just before daybreak, they hit strong support at $0.00003031 on the 38.2% Fibonacci. 

Shiba Inu then kept bouncing between the 50.0% Fibonacci resistance at $0.00003124 and the 38.2% Fibonacci support at $0.00003031 all through the day. 

By the end of the day, Shiba Inu was trading at the 50.0% Fibonacci resistance at $0.00003124. 

Shiba Inu started Thursday trading range-bound, continuing Wednesday’s price action. 

When going to press, SHIB was still range-bound, with bulls putting pressure on the 50.0% Fib resistance at $0.00003124. 

SHIB/USD 1-hour chart 021722

Source: TradingView

A glance at the day ahead

The key levels to watch today are the 50.0% Fibonacci resistance at $0.00003124 and the 38.2% Fibonacci support at $0.00003031.

If bulls take control and push Shiba Inu through the 50.0% Fibonacci resistance at $0.00003124, the next key level to keep an eye on would be the 61.8% Fibonacci at $0.00003216. If the 61.8% Fib resistance is broken, prices above $0.00003304 could be tested in the day.  

However, if the 38.2% Fibonacci support at $0.00003031 is broken, the 23.6% Fibonacci support at $0.00002916 would come into focus. If the 23.6% Fibonacci support is broken, prices below $0.00002804 could be seen in the day.

On the other hand, if volumes remain low throughout the day, Shiba Inu could trade between the 50.0% Fibonacci resistance at $0.00003124 and the 38.2% Fibonacci support at $0.00003031. 

A glance at the technicals

Key resistance: 50.0% Fibonacci at $0.00003124

Key support: 38.2% Fibonacci at $0.00003031

Solana

Solana was bearish, albeit with low volumes for the better part of Wednesday. By the end of the day, it was down by less than a percentage. 

Solana started Wednesday trading bearish after bulls hit strong resistance at $105.89 on the 50.0% Fibonacci. 

However, Solana hit strong support at $102.27 on the 38.2% Fibonacci support just before daybreak. 

Solana oscillated around the 38.2% Fibonacci support until midday when bears gained control. Bears were in control until early afternoon, when they lost momentum slightly above the 23.6% Fibonacci support at $97.80. 

Bulls regained control, but by early evening, hit strong resistance at $102.27 on the 38.2% Fibonacci, then resistance. By the end of the day, Solana was trading at the 38.2% Fibonacci resistance at $102.27. 

Solana has been bearish for the part of Thursday morning. This is after bulls lost momentum at the 38.2% Fibonacci resistance in late Thursday trading. 

However, Solana hit strong support at $97.80 on the 23.6% Fibonacci support just before daybreak. When going to press, Solana was still range-bound between the 38.2% Fibonacci resistance at $102.27 and the 23.6% Fibonacci support at $97.80. 

SOL/USD 1-hour chart 021722

Source: TradingView

A glance at the day ahead

The key levels to watch in the day are the 38.2% resistance at $102.27 and the 23.6% Fibonacci support at $97.80.

If bulls take control and push Solana through the 38.2% Fibonacci resistance at $102.27, the 50.0% Fibonacci resistance at $105.89 would come into play. If the 50.0% Fibonacci resistance is broken, prices above $108.31 could be seen in the day. 

However, if bears manage to drive Solana through the 23.6% Fibonacci support at $97.80, prices below $92.61 could be tested within the day. 

On the other hand, if volumes remain low in the day, Solana could trade between the 38.2% Fibonacci resistance at $102.27 and the 23.6% Fibonacci support at $97.80.

A glance at the technicals 

Key resistance: 38.2% Fibonacci at $102.27

Key support: 23.6% Fibonacci at $97.80