Dogecoin, Shiba Inu & Solana Daily Price Predictions – March 02, 2022

Key resistance levels at play though volumes are pretty low

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Last Updated March 2nd 2022
5 Min Read
  • Dogecoin is range-bound as bulls fail at a key resistance level.
  • Shiba is yet to find a clear direction for the day as volumes drop in the broader market.
  • Solana bulls are in control but have yet to push through the monthly resistance at $102.78.

Dogecoin          

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

Dogecoin started Tuesday trading bearish after hitting strong resistance at $0.1344 on the 78.6% Fibonacci. However, Dogecoin bears lost momentum just two hours into the day without much volume.

Dogecoin entered a consolidation phase from that point until noon, when bulls gained control and pushed it through the 78.6% Fibonacci resistance.

However, Dogecoin fell back under the 78.6% Fibonacci resistance without support from the broader market. Range-bound trading then continued for the rest of the day. By the end of the day, Dogecoin was close to retesting the 78.6% Fibonacci resistance at $0.1344.

Dogecoin started Wednesday trading at the 78.6% Fibonacci resistance. While bulls were putting pressure on this resistance all through the morning, they didn’t have much volume to push through the 78.6% Fibonacci resistance decisively.

DOGE/USD 1-hour chart 030222

DOGE/USD daily chart. Source: TradingView

A glance at the day ahead

The key levels to watch are the 78.6% Fibonacci resistance at $0.1344 and the 61.8% Fibonacci support at $0.1285.

If bulls take control and push Dogecoin through the 78.6% Fibonacci resistance at $0.1344, the monthly resistance at $0.1419 would come into play. If the monthly resistance at $0.141 is broken, prices above $0.153 could be hit in the day. 

However, if bears take control and push Dogecoin through the 61.8% Fibonacci support at $0.1285, prices below $0.1260 could be tested within the day.

If volumes drop, Dogecoin could trade between the 78.6% Fibonacci resistance at $0.1344 and the 61.8% support at $0.1285.

A glance at the technicals

Key resistance: 78.6% Fibonacci at $0.1344

Key support: 61.8% Fibonacci at $0.1285

More On Dogecoin: You Asked: What If I Invest $10 In Dogecoin (DOGE)?

Shiba Inu

Shiba Inu was bullish for the better part of Tuesday. By the end of the day, it was up by 3%.

Shiba Inu started Tuesday trading bearish after hitting strong resistance at $0.00002598 on the 78.6% Fibonacci resistance.

However, just two hours into the day, Shiba Inu bulls gained momentum and by mid-morning, had broken through the 78.6% Fibonacci resistance at $0.00002598.

Momentum accelerated after the 78.6% Fibonacci resistance was broken, and by early afternoon, Shiba Inu had broken through the monthly resistance at $0.00002742.

However, Dogecoin quickly fell back below the monthly resistance with the broader market bearish. Volumes dropped shortly after that, and range-bound trading started for the rest of the day.

Shiba Inu started trading bearish Wednesday. This was after buying volumes thinned out in late Tuesday trading. Just two hours into the day, Shiba Inu had hit the 78.6% Fibonacci support at $0.00002598.

SHIB bounced off this support, but bulls lost momentum with the broader market directionless.

When going to press, Shiba Inu was trading in a range between the monthly resistance at $0.00002742 and the 78.6% Fibonacci support at $0.00002598.

SHIB/USD 1-hour chart 030222

SHIB/USD daily chart. Source: TradingView

A glance at the day ahead

The key levels to watch are the monthly resistance at $0.00002742 and the 78.6% Fibonacci support at $0.00002598.

If bulls take control and push Shiba Inu through the monthly resistance at $0.00002742, prices above $0.00002878 could be tested in the day.

However, if the 78.6% Fibonacci support is broken; prices below $0.00002524 could be hit in the day.

On the other hand, if volumes drop, Shiba Inu could trade between the monthly resistance at $0.00002742 and the 78.6% Fibonacci support at $0.00002598.

A glance at the technicals

Key resistance: Monthly resistance at $0.00002742

Key support: 78.6% Fibonacci at $0.00002598

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

Solana

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

Solana started Tuesday trading bearish, but just two hours into the day hit strong support at $96.29 on the 23.6% Fibonacci support.

Solana consolidated around the 23.6% Fibonacci support at $96.29 until mid-morning when buying volumes shot up.

However, this too was short-lived, and an hour later, Solana was back in consolidation at the 23.6% Fibonacci support at $96.29. This price action continued for the rest of the day.

Solana started trading range-bound Wednesday. Just three hours into the day, bulls took control with high volumes. Upside momentum was quite strong, and just before daybreak, Solana had hit and briefly pushed through the monthly resistance at $102.78.

However, buying volumes dropped, and Solana fell back under the monthly resistance at $102.77.

When going to press, Solana was gaining upside momentum but was yet to push through the monthly resistance.

DOGE/USD 1-hour chart 030222

SOL/USD daily chart. Source: TradingView

A glance at the day ahead

The key levels to keep an eye on are the monthly resistance at $102.78 and the 23.6% Fibonacci support at $96.29.

If bulls take control and push Solana through the monthly resistance at $102.78, prices above $105.16 could easily be hit within the day.

However, if bears manage to push Solana through the 23.6% Fibonacci support at $96.29, the 38.2% Fibonacci support at $92.28 would come into play. If the 38.2% Fibonacci support is broken, prices below $90.21 could be hit in the day.

If volumes drop, Solana could oscillate between the monthly resistance at $102.78 and the 23.6% Fibonacci support at $96.29 all through the day.

A glance at the technicals

Key resistance: Monthly resistance at $102.78

Key support: 23.6% Fibonacci at $96.29

More On Solana: Solana (SOL) Price Prediction