- Dogecoin bulls are gaining momentum after a bullish reversal in late Thursday trading.
- Shiba Inu bulls sustain upside momentum after making a v-shaped recovery.
- Solana is in the green, but volumes are too low to call a bullish reversal.
Dogecoin
Dogecoin was bearish all through Thursday. By the end of the day, it was down by 5.1%.
Dogecoin started Thursday trading range-bound above the 23.6% Fibonacci support at $0.1475.
This continued until mid-morning when bears took control and pushed Dogecoin through the 23.6% Fibonacci support, with high volumes.
Bearish momentum accelerated all through the day, and just two hours to the end of the day, Dogecoin pushed through monthly support at $0.1402.
However, after a whole day in the red, Dogecoin was oversold late evening. This triggered a bullish pullback that saw Dogecoin end the day back at the monthly support.
Dogecoin started Friday trading in the green, a continuation of the momentum built up in the last two hours of Thursday. Bulls were still in control when going to press, albeit with low volumes.
Source: TradingView
A glance at the day ahead
The key levels to watch are the 23.6% Fibonacci resistance at $0.1475 and the multi-month support at $0.1402.
If bulls take control and push Dogecoin through the 23.6% Fibonacci resistance at $0.1475, the 38.2% Fibonacci resistance at $0.1520 would come into focus. If bulls break the 38.2% Fib resistance, prices above $0.1543 could be tested in the day.
However, if bears take control and push Dogecoin through the multi-month support at $0.1402, prices below $0.1371 could be tested in the day.
On the other hand, if volumes drop, Dogecoin could trade between the 23.6% Fibonacci resistance at $0.1475 and the multi-month support at $0.1402.
A glance at the technicals
Key resistance: 23.6% Fibonacci at $0.1475
Key support: Multi-month support at $0.1402
More On Dogecoin: The 5 Best Ways to Buy Dogecoin
Shiba Inu
Shiba Inu was bearish all through Thursday. Shiba Inu was down by 4.5% by the end of the day.
Shiba Inu started Thursday trading range-bound between the 38.2% Fibonacci support at $0.00003032 and the 50.0% Fibonacci resistance at $0.00003122.
This continued until daybreak when a spike in buying volumes led to a sudden increase in the price of SHIB. However, Shiba Inu hit strong resistance at $0.00003122 on the 61.8% Fibonacci.
The 61.8% Fibonacci resistance proved too strong for Dogecoin bulls, and a sharp selloff followed.
The selloff was quite strong, and Shiba Inu broke through multiple support levels. By the end of the day, SHIB was close to testing multi-month support at $0.00002740.
However, there was a drop in the last two hours of the day as buyers started entering the market.
Shiba Inu started Friday trading bullish as more buyers took advantage of the low prices.
This led to a sharp bullish reversal. When going to press, Shiba Inu had pushed through the 23.6% Fibonacci resistance at $0.00002920 and was close to testing the 38.2% Fibonacci resistance at $0.00003032.
Source: TradingView
A glance at the day ahead
The key levels to watch today are the 38.2% Fibonacci resistance at $0.00003032 and the 23.6% Fibonacci support at $0.00002920.
If bulls take control and push Shiba Inu through the 38.2% Fibonacci resistance at $0.00003032, the 50.0% Fibonacci at $0.00003122 would come into play. If it’s broken, prices above $0.00003190 could be seen in the day.
However, if the 23.6% Fibonacci support at $0.00002920 is broken, prices below $0.00002757 could be seen in the day.
On the other hand, if volumes remain low throughout the day, Shiba Inu could trade between the 38.2% Fibonacci resistance at $0.00003032 and the 23.6% Fibonacci support at $0.00002920.
A glance at the technicals
Key resistance: 38.2% Fibonacci at $0.00003032
Key support: 23.6% Fibonacci at $0.00002920
More On Shiba Inu: You Asked: What if I Invest $10 In Shiba Inu?
Solana
Solana was bearish all through Thursday. By the end of the day, it was down by 6.57%.
Solana was bearish for the better part of Thursday, continuing the bear trend that started in late Wednesday trading.
The selloff accelerated throughout the day, and Solana quickly pushed through multiple support levels. The selloff was so strong that, three hours to the end of the day, Solana was close to testing the monthly support at $90.64.
After the heavy selloff throughout the day, selling volumes declined at the end of the day. This saw buyers enter the market in the first two hours of Friday trading. When going to press, bulls gained control, but with very low volumes.
Source: TradingView
A glance at the day ahead
The key levels to watch in the day are the 23.6% resistance at $97.86 and the weekly support at $93.95.
If bulls take control and push Solana through the 23.6% Fibonacci resistance at $97.86, the 38.2% Fibonacci resistance at $102.33 would come into focus. If the 38.2% Fibonacci resistance is broken, prices above $104.90 could be tested within the day.
However, if bears manage to drive Solana through the weekly support at $93.95, the monthly support at $90.64 would come into play. If the monthly support is broken, prices below $89.66 could be within reach in the day.
On the other hand, if volumes drop within the day, Solana could trade between the 23.6% Fibonacci resistance at $97.86 and the weekly support at $93.95.
A glance at the technicals
Key resistance: 23.6% Fibonacci at $97.86
Key Support: Weekly support at $93.95
More On Solana: Is Solana Crypto A Buy?