Dogecoin, Shiba Inu & Solana Daily Price Predictions – February 24, 2022

Cryptos break key support levels as bearish momentum accelerates

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Last Updated February 24th 2022
4 Min Read
  • Dogecoin is strongly bearish as critical monthly support is broken and with high volumes.
  • Shiba Inu's bearish sentiment is accelerating as the broader market turns red.
  • Solana breaks monthly support as bears increase grip in the market.

Dogecoin                

Dogecoin was slightly bearish on Wednesday. By the end of the day, it was down by 2%.

Dogecoin started Wednesday trading, consolidating at $0.1307 on the 23.6% Fibonacci resistance.

Just before daybreak, bulls gained control and pushed Dogecoin to the 38.2% Fibonacci resistance at $0.135 by midday. The 38.2% Fibonacci proved too strong for bulls, though, and with the broader market turning bearish, Doge bears gained control.

Bears remained in control for the rest of the day, and by the last hour of the day, Dogecoin was close to testing monthly support at $0.1237.

Dogecoin started Thursday trading bearish, a continuation of the selloff that had started in late Wednesday trading.

Just before daybreak, a selloff in the broader market saw Dogecoin crash through monthly support at $0.1237.

Dogecoin was strongly bearish when going to press, and the selloff was accelerating.

DOGE/USD 1-hour chart 022422

Source: TradingView

A glance at the day ahead

The key levels to watch are the intra-day resistance at $0.1237 and the day’s low of $0.1064, which is now support.

If bulls take control and push Dogecoin through the intra-day resistance at $0.1237, the 23.6% Fibonacci resistance at $0.1307 would come into play. If the 23.6% Fibonacci resistance is broken, prices above $0.1333 could be tested in the day. 

However, if bears take control and push Dogecoin through the day’s low of $0.1064, prices below $0.10 could be tested in the day.

If volumes drop, Dogecoin could trade between the intra-day resistance at $0.1237 and the day’s low of $0.1064.

A glance at the technicals

Key resistance: Intra-day resistance at $0.1237

Key support: Day’s low of $0.1064

Read More: Is Dogecoin Crypto A Buy?

Shiba Inu

Shiba Inu had a mixed day on Wednesday and closed the day pretty much where it had started.

Shiba Inu started Wednesday trading range-bound. Just before daybreak, buying volumes started to rise and by mid-morning, SHIB had pushed through the 23.6% Fibonacci resistance at $0.00002528.

Buying volumes rose significantly, and by mid-morning, Shiba Inu hit, and briefly pushed through the 38.2% Fibonacci resistance at $0.00002666.

However, with the broader market turning bearish, Shiba Inu bulls lost momentum. Bearish momentum accelerated and by the end of the day, Shiba Inu was trading at the 23.6% Fib, which was then support.

Shiba Inu started Thursday trading bearish. Just before daybreak, Shiba Inu had crossed through the monthly support at $0.00002305. When going to press, Shiba Inu’s bearish momentum was accelerating.

SHIB/USD 1-hour chart 022422

Source: TradingView

A glance at the day ahead

The key levels to watch are the intra-day resistance at $0.00002305 and the day’s low, which is now support at $0.00002131.

If bulls take control and push Shiba Inu through the intra-day resistance at $0.00002305, the 23.6% Fibonacci resistance at $0.00002528 would come into play. If the 23.6% Fibonacci resistance is broken, prices above $0.00002594 could be tested in the day.

However, if the day’s low, which is now support at $0.0002131, prices below $0.00002012 could be tested in the day.

On the other hand, if volumes drop, Shiba Inu could trade between the intra-day resistance at $0.00002305 and the day’s low of $0.00002131. 

A glance at the technicals

Key resistance: Intra-day resistance at $0.00002305

Key support: Day’s low of $0.00002131

Read More: How Soon Can Shiba Inu Reach $0.01?

Solana

Solana had a mixed day on Wednesday, and by the end of the day, was trading pretty much where it had started.

Solana started Wednesday trading bullish, a continuation of the uptrend that had started in late Tuesday trading.

Solana had pushed through the 38.2% Fibonacci resistance at $90.55 by midday and hit the 50.0% Fibonacci resistance at $93.47.

With the broader market turning bearish, Solana bulls lost momentum at the 50.0% Fibonacci resistance at $93.47.

Bearish momentum was quite strong, and by the end of the day, Solana had broken through the 23.6% Fibonacci support at $86.95.

Solana started Thursday trading bearish, a continuation of the bearish momentum that had started in late Wednesday trading.

Just before daybreak, Solana had hit and broken through the monthly support at $81.12. When going to press, Solana had made new lows of $75.36.

SOL/USD 1-hour chart 022422

Source: TradingView

A glance at the day ahead

The key price levels to watch in the day are the intra-day resistance at $81.12 and the day’s low support at $75.36.

If bulls take control and push Solana through the intra-day resistance at $81.12, the 23.6% Fibonacci resistance at $86.95 would come into play. If the 23.6% Fibonacci resistance is broken, prices above $89.54 could be tested in the day. 

However, if bears manage to push Solana through the day’s low of $75.36, prices below $73.12 could be tested in the day.

If volumes drop, Solana could trade between the intra-day resistance at $81.12 and the day’s low of $75.36.

A glance at the technicals

Key resistance: Intra-day resistance at $81.12

Key support: Day’s low of $75.36

Read More: Best Methods Οn How Τo Earn Solana Coins Fast