Top 3 Cryptocurrencies To Watch This Week, SHIB, DOGE, ADA: Shiba Inu Explodes Towards $0.000030

Last Updated March 28th 2022
5 Min Read
  • Shiba Inu looks to recapture bullish 200-DMA as the daily technical setup favors SHIB bulls. 
  • Dogecoin price takes out the 100-DMA barrier as DOGE bulls regain poise starting out a fresh week.   
  • Cardano price stands resilient to the overbought RSI conditions on the 1D chart, as $1.26 remains in sight. 

Cryptocurrencies are on fire for the third week in a row, marking a positive start to a fresh week, as the granddaddy of digital assets, Bitcoin, surpassed the $47,000 mark. Ethereum is on its way to $3,500.

The uptrend in Bitcoin suggests that the altcoins season could be also underway, with the dog-themed crypto coins and Cardano seemingly upbeat. 

This comes as the global cryptocurrency market cap outpaced the $2.0 trillion mark, gaining over 4% in the last 24 hours. Total cryptocurrency trading volume rallied roughly 50% to $91.55 billion.

The fundamental story has been supportive of the Shiba Inu price, especially after the Shibburn crypto tracking service tweeted out, “In the last 7 days, there have been a total of 2,604,802,620 $SHIB tokens burned and 191 transactions. #shibarmy.”

Amongst the DeFi tokens, Shiba Inu, Dogecoin and Cardano are likely to remain traders’ favorites this week. How are these coins positioned on the technical graphs?  

Shiba Inu price eyes a sustained move above 100-DMA 

Having booked the second straight weekly gains, the price of Shiba Inu is continuing its bullish streak into a new week this Monday.

SHIB price is off the four-week highs of $0.0000269, still gaining 3.21% on the day to now trade at $0.0000264. 

SHIB bulls have resumed their previous week’s uptrend, barring an aberration seen on Thursday, as bulls remain unstoppable amid an extended rally across the crypto board.

Technically, the canine-theme meme coin is set for more upside, as bulls gear up for an extension of the upside break from the descending triangle that occurred on March 19. 

The ongoing three-day rally is looking to reclaim ground above the bearish 100-Daily Moving Average (DMA) at $0.0000270. 

If SHIB buyers take out the 100-DMA on a sustained basis, then the monthly highs of $0.0000286 will be back on their radars. 

The next relevant resistance is envisioned at $0.0000300, which is the confluence of the psychological level and the upward-pointing 200-DMA.

The 14-day Relative Strength Index (RSI) is pointing north while holding comfortably above the midline, allowing room for the additional upside. 

SHIB/USDT daily chart 032822

SHIB/USDT daily chart. Source: TradingView

On the downside, the ascending 50-DMA, the previous resistance now turned support, at $0.0000254 will come to the immediate rescue of SHIB bulls. 

The next significant cushion is seen at near $0.0000235, where the March 25 lows meet with the upward-pointing 21-DMA.

The line in the sand for Shiba Inu optimists is aligned at $0.0000207, the February 24 low.  

All in all, the path of least resistance for Shiba Inu remains to the upside, as bulls are likely to dominate going forward. 

Related: Shiba Inu (SHIB) Price Predictions

Dogecoin price flirts with the critical daily resistance line above $0.15

Dogecoin price is testing the bearish commitments at the critical daily resistance line just above $0.15, as the buying interest around the altcoin remains unabated for the third day in a row. 

In doing so, DOGE price is extending the bullish reversal after bottoming out at $0.11 in the middle of this month.    

At the time of writing, the canine-faced digital asset is trading just below $0.15, adding roughly 3% on a daily basis. The coin is sitting at the highest level since the February 15 top of $0.1529.

From a short-term technical perspective, DOGE bulls have taken a pause after the three-day non-stop upsurge, testing offers at the critical horizontal resistance connecting the February 15 highs at $0.1529.

The weekend rally in Dogecoin prompted buyers to recapture the all-important 100-DMA, now at $0.146, underpinning the bullish sentiment. 

Further, the 14-day RSI continues to hold firmer above the 50.00 level, keeping DOGE bulls motivated. 

Should DOGE bulls turn out successful in finding acceptance above the mid-February hurdle, a fresh upswing towards the February top of $0.1730 will be inevitable. 

Ahead of the abovementioned upside barrier, the $0.1600 round level will emerge as a tough nut to crack for the price. 

DOGE/USD daily chart 032822

DOGE/USD daily chart. Source: TradingView

On the flip side, any retracement will challenge the earlier resistance now support at the 100-DMA, below which a sharp drop towards the 50-DMA at $0.1318 will be in the offing. 

If the selling pressure intensifies, then DOGE sellers will target the bullish 21-DMA at $0.1236. 

Further down, the previous week’s low around $0.1175 will be the last line of defense for DOGE optimists.

Related: Dogecoin (DOGE) Price Prediction

Cardano buyers regain poise, looking to crack this key hurdle

Cardano price is on a three-day uptrend this Monday, having tested the $1.250 barrier earlier on, as bulls gather steam before resuming the next upswing.  

ADA price found solid bids around the $1.0800 region over the past four trading days, which formed a base for the last upside.

The no. 7 crypto coin has surged 13% over the weekend, with the solid gains extending into Monday, currently trading at $1.238. ADA/USD is challenging seven-week highs after witnessing a stellar week.

Looking at Cardano’s daily technical chart, nothing seems to have changed for ADA bulls, as the upside remains compelling despite the overbought RSI conditions. 

The so-called ‘Ethereum-killer’ eyes more gains above the horizontal trendline resistance, connecting from the February 8 high of $1.263.

ADA bulls, however, need to scale the $1.250 psychological level, at first. 

Meanwhile, the 21-DMA is on its way towards the horizontal 50-DMA, which if materialized will confirm a bullish crossover. 

A firm break above the fierce cap at $1.263 will expose the $1.30 round figure. 

ADA/USD daily chart 032822

ADA/USD daily chart. Source: TradingView

Alternatively, rejection at $1.263 could recall ADA sellers, exposing the downside towards the horizontal 100-DMA at $1.1010. 

Acceptance below the latter will initiate a fresh downward spiral, with the flattish 50-DMA at $0.958 back in bears’ sights. 

The line in the sand for ADA bulls is seen at the upward-pointing 21-DMA at $0.931. 

Related: Cardano (ADA) Price Prediction