Dogecoin, Shiba Inu & Solana Daily Price Predictions – February 23, 2022

Key resistance levels at play as bulls regain control

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Last Updated February 23rd 2022
5 Min Read
  • Dogecoin bulls in control after breaking key intra-day resistance.
  • Shiba Inu is bullish but needs to break the $0.00002528 resistance for an uptrend to be confirmed.
  • Solana bulls need to break $90.48 resistance for an uptrend to be confirmed in the day.

Dogecoin

After a selloff on Monday, Dogecoin was in recovery all through Tuesday. By the end of the day, it was up by 4%.

Dogecoin started Tuesday, trading bearish, continuing the selloff that had started on Monday.

However, just before daybreak, Dogecoin hit strong monthly support at $0.1238. The monthly support proved to be quite strong for bears, and a bullish reversal followed.

Bull were quite strong and maintained momentum until early afternoon when Dogecoin hit strong resistance at $0.1309 on the 23.6% Fib.

The 23.6% Fibonacci resistance proved strong for bulls, but bears didn’t have much momentum either. What followed was range-bound trading around the 23.6% Fibonacci resistance at $0.1309 for much of the evening.

Dogecoin started Wednesday trading bullish and, within the first hour of the day, had pushed through the 23.6% Fibonacci resistance at $0.1309.

However, buying volumes slowed down, and by daybreak, Dogecoin was consolidating above the 23.6% Fib resistance. 

Shortly after daybreak, though, buying volumes started to rise. When going to press, Dogecoin buying volumes were increasing, and the price was on the rise.

DOGE/USD 1-hour chart 022322

Source: TradingView

A glance at the day ahead

The key levels to watch are the 38.2% Fibonacci resistance at $0.1353 and the 23.6% Fibonacci support at $0.1309.

If bulls take control and push Dogecoin through the 38.2% Fibonacci resistance at $0.1353, the 50.0% Fibonacci resistance at $0.1388 would come into focus. If the 50.0% Fibonacci resistance is broken, prices above $0.1422 could be seen in the day. 

However, if bears take control and push Dogecoin through the 23.6% Fibonacci support at $0.1309, the multi-month support at $0.1238 would come into play. If the monthly support is broken, prices below $0.1215 could be hit within the day.

If volumes drop, Dogecoin could trade between the 38.2% Fibonacci resistance at $0.1353 and the 23.6% Fibonacci support at $0.1309.

A glance at the technicals

Key resistance: 38.2% Fibonacci at $0.1353

Key support: 23.6% Fibonacci at $0.1309

Read More: 8 Reasons Why You Should Invest In Dogecoin Today

Shiba Inu

Shiba Inu was in recovery all through Tuesday. By the end of the day, it was up by 4.9%.

Shiba Inu started Tuesday trading bearish, continuing the selloff that had started on Monday.

However, just before daybreak, Shiba Inu hit strong monthly support at $0.00002305. The monthly support proved to be quite strong, and there was a huge bounce off it.

Shiba Inu gained upside momentum until early afternoon when it hit strong resistance at $0.00002528 on the 23.6% Fibonacci.

The 23.6% Fib resistance proved strong for bulls, and a slight correction followed. The correction lasted until the early evening when SHIB bulls regained upside momentum.

Bulls were in control from the early evening until the end of the day when Shiba Inu retested the 23.6% Fibonacci resistance.

Shiba Inu started Wednesday trading bearish after hitting strong resistance at $0.00002528 on the 23.6% Fibonacci.

However, just before daybreak, bulls regained momentum. When going to press, bulls were in control but were yet to push SHIB through the 23.6% Fib resistance at $0.00002528.

SHIB/USD 1-hour chart 022322

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 focus. If the 38.2% Fibonacci resistance is broken, prices above $0.00002718 could be seen in the day. 

However, if the multi-month support at $0.0002305 gives way, prices below $0.00002238 could be hit within the day.

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

A glance at the technicals

Key resistance: 23.6% Fibonacci at $0.00002528

Key support: Monthly support at $0.00002305

Read More: Is Shiba Inu (SHIB) A Good Buy?

Solana

Solana was bullish for the better part of Tuesday. By the end of the day, Solana was up by 9%.

Solana started Tuesday, trading bearish, continuing the selloff that had started on Monday.

However, just before daybreak, Solana hit strong monthly support at $81.04. The monthly support proved quite strong for bears, and a reversal followed.

Bulls were in control and with high volumes until early afternoon. That’s when Solana hit strong resistance at $86.87 on the 23.6% Fibonacci.

A minor correction followed, but Solana bulls regained momentum in the early evening with the overall market bullish.

However, volumes were low, and just before the end of the day, Solana bulls lost momentum slightly below the 23.6% Fib resistance. Bears attempted to regain control, but in the last hour of the day, bulls’ regained control and saw Solana retest the 23.6% Fib resistance at $86.87.

Solana started Wednesday trading bullish, a continuation of the momentum that it had built in the last hour of the day. Bulls were in control all morning, and when going to press, Solana was close to testing the 38.2% Fibonacci resistance at $90.48.

SOL/USD 1-hour chart 022322

Source: TradingView

A glance at the day ahead

The key price levels to watch in the day are the 38.2% Fibonacci resistance at $90.48 and the 23.6% Fibonacci support at $86.87.

If bulls take control and push Solana through the 38.2% Fibonacci resistance at $90.48 the 50.0% Fibonacci resistance at $93.46 would come into focus. If the 50.0% Fibonacci resistance is broken, prices above $95.15 could be hit within the day. 

However, if bears manage to push Solana through the 23.6% Fibonacci support at $86.87, prices below $82.51 could be hit in the day.

If volumes drop, Solana could trade between the 38.2% Fibonacci resistance at $90.48 and the 23.6% Fibonacci support at $86.87.

A glance at the technicals

Key resistance: 38.2% Fibonacci at $90.48

Key support: 23.6% Fibonacci support at $86.87

Read More: What Will Solana (SOL) Be Worth In 2030?