Dogecoin, Shiba Inu & Solana Technical Analysis – January 13, 2022

Bulls are in control but need to break key resistance levels for an uptrend to be confirmed.

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Last Updated January 13th 2022
5 Min Read
  • Dogecoin bulls need to push through the $0.1726 monthly resistance with high volumes for the uptrend to continue. 
  • Shiba Inu is gaining upside momentum but needs to break the $0.00003204 resistance for an uptrend to be confirmed. 
  • Solana bulls are in control but need to break the 50.0% Fib resistance at $152.01 for an uptrend to be confirmed. 

Dogecoin           

Dogecoin was bullish for the better of Wednesday. By the end of the day, DOGE was up by 10%. 

Dogecoin started Wednesday trading range-bound between the 50.0% Fibonacci resistance at $0.1547, and the 38.2% Fibonacci support at $0.1504. 

This range-bound trading continued until mid-morning when bullish momentum increased in the broader market. It is at this point that Dogecoin shot through the 50.0% Fibonacci resistance at $0.1547.

 Momentum shot up from that point on, and by early afternoon, Dogecoin had pushed through the 61.8% Fibonacci resistance at $0.1589.  

However, momentum eased up just above the 61.8% Fibonacci resistance shortly after, making the 61.8% Fibonacci, a support level in the day. The 61.8% Fibonacci, now support, proved to be too strong for bears.  Towards the end of the day, Dogecoin bounced off it, and with high volumes. 

Dogecoin started Thursday trading bullish, continuing the late Wednesday price action. Dogecoin had pushed through the 78.6% Fibonacci resistance two hours into the day at $0.1649. 

Bulls maintained control throughout the morning, and by daybreak, Dogecoin was trading at the $0.1726 monthly resistance. 

Dogecoin briefly pushed through $0.1726 monthly resistance but did not have the momentum to maintain a rally through it. 

When going to press, Dogecoin was a slight correction off the $0.1726 monthly resistance, but selling volumes were low. 

DOGE/USD daily chart 011322

Source: TradingView

A glance at the day ahead

The key levels to watch are the monthly resistance at $0.1726 and the 78.6% Fibonacci support at $0.1649.

If bulls take control and push Dogecoin through the monthly resistance at $0.1726, prices above $0.18 could be seen within the day. 

However, if bears take control and push Dogecoin through the 78.6% Fibonacci support at $0.1649, the 61.8% Fibonacci support at $0.1589 would come into focus. If broken, prices below $0.152 could be tested in the day.  

On the other hand, if volumes drop, Dogecoin could trade between the monthly resistance at $0.1726 and the 78.6% Fibonacci support at $0.1649.

A glance at the technicals

Key resistance: Monthly resistance at $0.1726

Key support: 78.6% Fibonacci at $0.1649

Shiba Inu

Shiba Inu was bullish for most of Wednesday. By the end of the day, SHIB was up by 10.9%. 

Shiba Inu started Wednesday trading between the 23.6% Fibonacci resistance at $0.00002809 and the intra-day support at $0.00002760. 

This range-bound trading did not last though, and just before daybreak, bulls took control with high volumes. 

Momentum shot up from that point on, and at daybreak, Shiba Inu pushed through the 23.6% Fibonacci resistance with high volumes. 

By mid-morning, bears attempted to retake control, but they quickly lost momentum with the broader market bullish. 

A bull rally followed, and Shiba Inu push through multiple resistance levels by early afternoon to hit the 78.6% Fibonacci resistance at $0.00003204. 

After such a massive rally in just a few hours, momentum eased up just below the 78.6% Fibonacci resistance at $0.00003204. Shiba Inu traded in a range below the 78.6% Fib resistance for the rest of the day. 

Shiba Inu started Thursday trading range-bound below the 78.6% Fibonacci resistance at $0.00003204. 

SHIB was still consolidating below the 78.6% Fibonacci resistance when going to press, but bulls were taking control.

SHIB/USD daily chart 011322

Source: TradingView

A glance at the day ahead

The key levels to watch today are the 78.6% Fibonacci resistance at $0.00003204 and the 61.8% Fibonacci support at $0.00003083.

If bulls take control and push Shiba Inu through the 78.6% Fibonacci resistance at $0.00003204, the monthly resistance at $0.00003359 would come into play. If the monthly resistance is broken, prices above $0.00003400 could be tested within the day.  

However, if the 61.8% Fibonacci support at $0.00003083 is broken; the 50.0% Fibonacci support at 0.00002998 would come into focus. If broken, prices below $0.00002952 could be hit within the day.

On the other hand, if volumes drop, Shiba Inu could trade between the 78.6% Fibonacci resistance at $0.00003204 and the 61.8% Fibonacci support at $0.00003083. 

A glance at the technicals

Key resistance: 78.6% Fibonacci at $0.00003204

Key support: 61.8% Fibonacci at $0.00003083

Solana

Solana was bullish for the better of Wednesday. By the end of the day, it was up by 8%. 

Solana started Wednesday trading range-bound slightly below the 23.6% Fibonacci resistance at $140.42. 

Solana consolidated below the 23.6% Fibonacci resistance until mid-morning, when bullish momentum increased in the broader market. At this point, Solana pushed through the 23.6% Fibonacci resistance at $140.42 and with high volumes.

Momentum shot up from that point on, and by late afternoon, Solana had pushed through the 38.2% Fibonacci resistance at $146.96 and tested the 50.0% Fibonacci resistance at $152.01. 

Bullish momentum eased up at the 50.0% Fibonacci resistance, though, and Solana consolidated below it for most of the evening. However, bears attempted to take control in the last two hours of the day. 

Solana started Thursday, trading bearish, continuing the late Wednesday price action. However, just before daybreak, bulls took back control of the market. 

Solana bulls were in control when going to press, but SOL was still trading below the 50.0% Fibonacci resistance at $152.01.  

SOL/USD daily chart 011322

Source: TradingView

A glance at the day ahead

The key levels to watch are the 50.0% Fibonacci resistance at $152.01 and the 38.2% Fibonacci support at $146.84.

If bulls take control and push Solana through the 50.0% Fibonacci resistance at $152.01, the 61.8% Fibonacci resistance at $157.22 would come into focus. If it’s broken, prices above $160 could be tested in the day. 

However, if the 38.2% Fibonacci support at $146.84 is broken, the 23.6% Fibonacci support at $140.35 would come into focus. If the 23.6% Fib support is broken, prices below $138 could be tested in the day. 

On the other hand, if volumes drop, Solana could trade between the 50.0% Fibonacci resistance at $152.01, and the 38.2% Fibonacci support at $146.84.

A glance at the technicals

Key resistance: 50.0% Fibonacci at $152.01

Key support: 38.2% Fibonacci at $146.84