Dogecoin, Shiba Inu & Solana Daily Price Predictions – February 9, 2022

Crypto majors yet to find direction after Tuesday's correction

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Last Updated February 9th 2022
5 Min Read
  • Dogecoin is range-bound and can break out in any direction, depending on volumes and the broader market.
  • Shiba Inu could turn bullish if bulls manage to break the $0.00003164 resistance.
  • Solana bears break critical support at $111.18, but bulls are fighting back hard.

Dogecoin        

Dogecoin was bearish all through Tuesday. By the end of the day, it was down by 6.5%.

Dogecoin started Tuesday trading bullish, after bouncing off the 23.6% Fibonacci in the first hour of the day.

However, bullish momentum did not last, and bears took control of the market at daybreak.

Bearish momentum was quite strong, and by late afternoon, Dogecoin had crashed through two major support levels and was testing a third one – the 50.0% Fibonacci support at $0.1536.

Dogecoin bounced off this support with high volumes, and just two hours to the end of the day, it was trading at the 38.2% Fibonacci, now resistance at $0.1583. Dogecoin traded at this level for the rest of the evening.

Dogecoin started Wednesday trading at the 38.2% Fibonacci resistance. Bulls tried to push DOGE through this resistance in early morning trading but failed.

This saw bears take control and push Dogecoin close to the 50.0% Fibonacci support, a move that was sharply rejected at daybreak.

When going to press, bulls were in control but were yet to push Dogecoin through the 38.2% Fibonacci resistance at $0.1583.

DOGE/USD 1-hour chart 020922

Source: TradingView

A glance at the day ahead

The key levels to watch are the 38.2% Fibonacci resistance at $0.1583 and the 50.0% Fibonacci support at $0.1536.

If bulls take control and push Dogecoin through the 38.2% Fibonacci resistance at $0.1583, the next key level to watch would be the 23.6% Fibonacci resistance at $0.1639. If the 23.6% Fib resistance is broken, prices above $0.1701 could be tested in the day.

However, if bears take control and push Dogecoin through the 50.0% Fibonacci support at $0.1536, the 61.8% Fibonacci at $0.1491 would come into focus. If it is broken, prices below $0.1447 could be seen within the day.

On the other hand, if volumes drop, Dogecoin could trade between the 38.2% Fibonacci resistance at $0.1539 and the 50.0% Fibonacci support at $0.1536.

A glance at the technicals

Key resistance: 38.2% Fibonacci at $0.1583

Key support: 50.0% Fibonacci at $0.1536

Shiba Inu

Shiba Inu was bearish for the better part of Tuesday. By the end of the day, it was down by 4%.

Shiba Inu started Tuesday trading bullish, a continuation of the momentum that it had built up in late Monday trading.

Shiba Inu bulls remained in control until daybreak when Shiba Inu hit strong resistance at $0.00003522, a critical monthly resistance level.

However, bears took control after that, and by late afternoon, Shiba Inu had pushed through the 23.6% Fibonacci support at $0.00003164 and was putting pressure on the 38.2% Fibonacci support at $0.00002942.

The 38.2% Fibonacci support proved too strong for bears, and SHIB bounced off it with high volumes.

By the end of the day, SHIB bulls were putting a lot of pressure on the 23.6% Fibonacci, now resistance at $0.00003164.

Shiba Inu started Wednesday trading at the 23.6% Fibonacci resistance at $0.00003164.

When going to press, Shiba Inu was still putting pressure on the 23.6% Fibonacci resistance but was yet to push through it.

SHIB/USD 1-hour chart 020922

Source: TradingView

A glance at the day ahead

The key levels to watch today are the 23.6% Fibonacci resistance at $0.00003164 and the 38.2% Fibonacci support at $0.00002942.

If bulls take control and push Shiba Inu through the 23.6% Fibonacci resistance at $0.00003164, the monthly resistance at $0.00003522 would come into play. If the monthly resistance at $0.00003522 is broken, prices above $0.00003622 could be seen in the day. 

However, if the 38.2% Fibonacci support at $0.00002942 is broken, the 50.0% Fibonacci support at $0.00002767 would come into focus. If the 50.0% Fibonacci support is broken, prices below $0.00002663 could be seen in the day.

On the other hand, if volumes drop, Shiba Inu could trade between the 23.6% Fibonacci resistance at $0.00003164 and the 38.26% support at $0.00002942.

A glance at the technicals

Key resistance: 23.6% Fibonacci at $0.00003164

Key support: 38.2% Fibonacci at $0.00002942

Solana

Solana was bearish all through Tuesday. By the end of the day, it was down by 4.5%.

Solana started Tuesday trading bullish after it bounced off the 23.6% Fibonacci support at $115.29 in late Monday trading.

The bullish momentum was weak, though, and at daybreak, bulls took control. What followed was a bear run that saw Solana easily push through the 23.6% Fibonacci support at $115.29 and test the 38.2% Fibonacci support at $111.18 by late afternoon.

The 38.2% Fibonacci support proved too strong for bears, though, and Solana bounced off it in the early evening.

Solana was in the green all through the evening, and by the end of the day, was close to testing the 23.6% Fibonacci, now resistance at $115.29.

Solana started Wednesday trading bearish and was in the red all morning. When going to press, Solana had breached the 38.2% Fibonacci at $111.18, but bulls were fighting back.

SOL/USD 1-hour chart 020922

Source: TradingView

A glance at the day ahead

The key levels to watch are the 23.6% resistance at $115.29 and the 38.2% Fibonacci support at $111.18.

If bulls take control and push Solana through the 23.6% Fibonacci resistance at $115.29, the monthly resistance at $121.90 would come into focus. If it's broken, prices above $124.55 could be seen in the day.

However, if bears push Solana through the 38.2% Fibonacci support at $111.18, the 50.0% Fibonacci support at $107.88 would come into play. If it is broken, prices below $106.16 could be tested within the day.

On the other hand, if volumes drop, Solana could trade between the 23.6% Fibonacci resistance at $115.29 and the 38.2% Fibonacci support at $111.18.

A glance at the technicals

Key resistance: 23.6% Fibonacci at $115.29

Key support: 38.2% Fibonacci at $111.18