Dogecoin, Shiba Inu & Solana Daily Price Predictions – February 22, 2022

If multi-month support levels break, the selloff could continue

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Last Updated February 22nd 2022
6 Min Read
  • Dogecoin bounces off crucial support, but it’s too early to tell if bulls are back in the market.
  • Shiba Inu bears are still in control but need to break the multi-month support for the selloff to continue.
  • Solana bears are still in control, but they need to break multi-month support to confirm a bearish trend in the day.

Dogecoin                      

Dogecoin was bearish for the better part of Monday. By the end of the day, it was down by 11%.

Dogecoin started Monday trading bullish after pushing through the 50.0% Fib resistance at $0.1388 in the first two hours of the day.

However, bullish momentum weakened at daybreak, and by mid-morning, bears took control. That’s after bulls lost momentum just below the 61.8% Fibonacci resistance at $0.1423.

A selloff followed, and at midday, Dogecoin had broken the 50.0% Fibonacci, then support, and tested the 38.2% Fibonacci support at $0.1352.

The 38.2% Fibonacci support proved quite strong, and there was a brief bounce off it. This did not last, though, and in the late afternoon, Dogecoin hit strong resistance at $0.1388 on the 50.0% Fibonacci.

Failure to break the 50.0% Fib resistance saw bearish momentum accelerate for the rest of the day.

By the end of the day, Dogecoin had breached the 38.2% Fib support at $0.1352 and the 23.6% Fibonacci support at $0.1308.

Dogecoin started trading bullish Tuesday as buyers tried to take advantage of the low prices.

However, bulls failed to push Dogecoin high enough to retest the 23.6% Fib, now resistance within the first hour of the day. This was a sign of weakness and saw bears take control for the rest of the morning.

Dogecoin had tested multi-month support at $0.1236 by daybreak and bounced off it. When going to press, Dogecoin had bounced off the $0.1236 support, but buying volumes were low.

DOGE/USD 1-hour chart 022222

Source: TradingView

A glance at the day ahead

The key levels to watch are the 23.6% Fibonacci resistance at $0.13089 and the multi-month support at $0.1236.

If bulls take control and push Dogecoin through the 23.6% Fibonacci resistance at $0.1309, the 38.2% Fibonacci resistance at $0.1302 would come into play. If the 38.2% Fibonacci resistance is broken, prices above $0.1377 could be hit within the day.

However, if bears take control and push Dogecoin through the multi-month support at $0.1236, prices below $0.1215 could be seen in the day.

On the other hand, if volumes drop, Dogecoin could trade between the 23.6% Fibonacci resistance at $0.1308 and the multi-month support at $0.1236.

A glance at the technicals

Key resistance: 23.6% Fibonacci at $0.1308

Key support: Multi-month support at $0.1236

Read More: What Might Happen If You Invest $100 In Dogecoin (DOGE) Today?

Shiba Inu

Shiba Inu was bearish for the better part of Monday and closed the day lower by 14%.

Shiba Inu started Monday trading bullish after bouncing off the 23.6% Fib at $0.00002528 in late Sunday trading.

Shiba Inu bulls were in control until daybreak when they lost momentum just below the 50.0% Fibonacci resistance at $0.00002777.

With the broader market turning bearish, Shiba Inu bears took control until midday when SHIB hit strong support at $0.00002528 on the 23.6% Fibonacci.

Shiba Inu bounced off the 23.6% Fib support but just two hours later hit strong resistance at $0.00002666 on the 38.2% Fibonacci.

Failure to push through the 38.2% Fibonacci resistance saw bears take full control for the rest of the day. By the last hour of Monday trading, Shiba Inu was close to testing the multi-month support at $0.00002305.

Shiba Inu started Tuesday trading in the green, with buyers trying to take advantage of the low prices. However, with the broader market still bearish, they were overwhelmed. What followed was a selloff that saw Shiba Inu test the multi-month support at $0.00002305 just before daybreak.

SHIB bounced off the multi-month support, but momentum was weak. When going to press, Shiba Inu bears were regaining market control.

SHIB/USD 1-hour chart 022222

Source: TradingView

A glance at the day ahead

The key levels to watch are the 23.6% Fibonacci resistance at $0.00002528 and the multi-month support at $0.00002305.

If bulls take control and push Shiba Inu through the 23.6% Fibonacci resistance at $0.00002528, the 38.2% Fibonacci resistance at $0.00002666 would come into play. If the 38.2% Fibonacci resistance is broken, prices above $0.00002754 could be seen in the day. 

However, if the multi-month support at $0.0002305 is broken, prices below $0.00002245 could be tested in the day.

On the other hand, if volumes drop, Shiba Inu could trade between the 23.6% Fibonacci resistance at $0.00002528 and the multi-month support at $0.00002305. 

A glance at the technicals

Key resistance: 23.6% Fibonacci at $0.00002528

Key support: Multi-month support at $0.0002305

Read More: Is Shiba Inu Mining Still Profitable?

Solana

Solana was bearish for the better part of Monday. By the end of the day, it was down by 14.1%.

Solana started Monday trading bullish, continuing the momentum it had built in late Sunday trading.

Bulls were in control until mid-morning when Solana hit strong resistance at $96.31 on the 61.8% Fibonacci.

With the broader market bearish, failure to push through key resistance saw bears take control and high volumes.

Bears remained in control until early afternoon when Solana hit strong support at $86.87 on the 23.6% Fibonacci support. This saw bulls regain control, but the gains were short-lived as an hour later, Solana hit strong resistance at $90.48 on the 38.2% Fibonacci.

Bulls failed to push Solana through the 38.2% Fibonacci resistance, triggering a continuation of the selloff that had started earlier in the day.

The selloff continued for the rest of the day. By the end of the day, Solana had broken the 23.6% Fibonacci support and was close to testing the multi-month support at $81.04.

Solana started Tuesday trading with a brief bullish pullback, with buyers taking advantage of the low prices.

However, with the broader market bearish, bulls were quickly overwhelmed. What followed was a selloff that saw Solana test the multi-month support at $81.04 just before daybreak.

There was a brief bounce off the multi-month support, but when going to press, bears were regaining control.

SOL/USD 1-hour chart 022222

Source: TradingView

A glance at the day ahead

The key price levels to watch in the day are the 23.6% Fibonacci resistance at $88.67 and the multi-month support at $81.04.

If bulls take control and push Solana through the 23.6% Fibonacci resistance at $86.87, the 38.2% Fibonacci resistance at $90.48 would come into play. If the 38.2% Fibonacci

resistance is broken, prices above $92.63 could be tested in the day. 

However, if bears manage to push Solana through the multi-month support at $81.04, prices below $79.34 could be tested in the day.

On the other hand, if volumes drop, Solana could trade between the 23.6% Fibonacci resistance at $86.87 and the multi-month support at $81.04.

A glance at the technicals

Key resistance: 23.6% Fibonacci at $86.87

Key support: Multi-month support at $81.04

Read More: Solana Price Prediction For 2025 And 2030