Dogecoin, Shiba Inu & Solana Daily Price Predictions– February 4, 2022

Bulls take control early in the day after a strong bounce off crucial support levels

By
Last Updated February 4th 2022
5 Min Read
  • Dogecoin pushes through key resistance levels as bulls take control.
  • Shiba Inu bulls are in control but need to break through the $0.00002111 resistance for a bull trend to be confirmed.
  • Solana bulls are in control but need to decisively push through the $105.75 resistance for an uptrend to be confirmed.

Dogecoin                        

Dogecoin was directionless for the better part of Thursday. By the end of the day, it was trading pretty where it had started.

Dogecoin started Thursday trading bullish after hitting strong support at $0.1369 on the 61.8% Fibonacci in late Wednesday trading.

Bulls remained in control until daybreak when they lost momentum. Bears managed to push DOGE through the 61.8% Fibonacci support, and test a low of $0.1346 by mid-day.

However, a sharp reversal at the $0.1346 low, saw Dogecoin briefly push through the 61.8% Fibonacci, then resistance, by late afternoon. Bulls lost control at this price level for the second time in the day.  What followed was a crash back to $0.1346, which was now intra-day support.

Bulls took control at this price level and pushed Dogecoin back through the 61.8% Fibonacci resistance, in the last two hours of the day.

Dogecoin started Friday trading with a minor pullback to the 61.8% Fibonacci support at $0.1369.

It then bounced off this support and was in the green all morning. When going to press, Dogecoin had pushed through the 50.0% Fibonacci resistance, and buying volumes were on the rise.

DOGE/USD 1-hour chart 020422

Source: TradingView

A glance at the day ahead

The key levels to watch are the 38.2% resistance at $0.1433 and the 50.0% Fibonacci at support at $0.1401.

If bulls take control and push Dogecoin through the 38.2% Fibonacci resistance at $0.1433, the next key level to watch would be the 3-day high at $0.1466. If the 3-day high is broken, prices above $0.155 could be hit within the day.

However, if bears take the market and drive Dogecoin through the 50.0% Fibonacci support at $0.1401, prices below $0.1371 could be seen within the day. 

On the other hand, if volumes drop, Dogecoin could trade between the 38.2% Fibonacci resistance at $0.1433 and the 50.0% Fibonacci support at $0.1401.

A glance at the technicals

Key resistance: 38.2% Fibonacci at $0.1433

Key support: 50.0% Fibonacci at $0.1401

Shiba Inu

Shiba Inu was range-bound for the better part of Thursday. By the end of the day, it was trading pretty much where it had started.

Shiba Inu started Thursday trading bearish, and just before daybreak, SHIB tested and briefly pushed through the 61.8% Fibonacci support at $0.00002054.

However, bearish momentum was not strong, and at daybreak; Shiba Inu bounced back and tested a high of $0.00002073.  Shortly after, bears regained control and pushed SHIB  through the 61.8% Fibonacci support at $0.00002054.

This was short-lived, though, and bulls took control for the second time in the day before they too hit strong intraday resistance at $0.00002073.

Shiba Inu oscillated between the intra-day resistance at $0.00002073 and the intra-day support at $0.00002032 for the rest of the day. Shiba Inu was trading at the $0.00002073 intra-day resistance at the end of the day.

Shiba Inu started Friday trading with a minor dip to the 61.8% Fibonacci support at $0.00002054.

It bounced off this support with high volumes. When going to press, Shiba Inu was strongly bullish and was close to testing the 50.0% Fibonacci resistance at $0.00002111.

SHIB/USD 1-hour chart 020422

Source: TradingView

A glance at the day ahead

The key levels to watch today are the 50.0% Fibonacci resistance at $0.00002221and the 23.6% Fibonacci support at $0.00002023.

If bulls take control and push Shiba Inu through the 50.0% Fibonacci resistance at $0.00002111, the 38.2% Fibonacci resistance at $0.00002169 would be the next major resistance. If it’s broken, prices above $0.00002199 could be tested within the day. 

However, if the 61.8% support at $0.00002054 is broken; prices below $0.00001940 could be possible in the day.

If volumes drop, Shiba Inu could trade between the 50.0% Fibonacci resistance at $0.00002111 and the 61.8% support at $0.00002054.

A glance at the technicals:

Key resistance: 50.0% Fibonacci at $0.00002111

Key support: 61.8% Fibonacci at $0.00002054

Solana

Solana had a mixed day on Thursday and closed the day pretty much where it had started.

Solana started Thursday trading bearish, a continuation of the selloff that had started a day earlier.

The selloff was quite strong, and by mid-morning, Solana had pushed through multiple support levels and came close to testing the 61.8% Fibonacci support at $93.04.

Bears lost momentum at this price level but lagged at the 50.0% Fibonacci resistance at $96.95 until early evening.

That’s when bullish momentum increased and SOL rallied through the 38.2% Fibonacci resistance at $100.85.

Solana started Friday trading bullish, a continuation of the momentum it had built up on Thursday.

When going to press, Solana was trading at $105.75 on the 23.6% Fibonacci resistance, but upside momentum was on the rise.

SOL/USD 1-hour chart 020422

Source: TradingView

A glance at the day ahead

The key levels to watch today are the 23.6% resistance at $105.75 and the 38.2% Fibonacci at $100.85.

If bulls take control and push Solana through the 23.6% Fibonacci resistance at $105.75, prices above $112.44 could be seen within the day.

However, if bears push Solana through the 38.2% Fibonacci support at $100.85, the 50.0% Fibonacci support at $96.95 would come into play. If it is broken, prices below $95.16 could tested in the day.

If volumes drop, Solana could trade between the 23.6% Fibonacci resistance at $105.75 and the 38.2% Fibonacci support at $100.85.

A glance at the technicals

Key resistance: 23.6% Fibonacci at $105.75

Key support: 38.2% Fibonacci at $100.85