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BTC, DOGE and SHIB Price Analysis for December 17

Price Predictions
Fri, 12/17/2021 - 14:42
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Denys Serhiichuk
How long is the ongoing fall going to last?
BTC, DOGE and SHIB Price Analysis for December 17
Cover image via www.tradingview.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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Buyers could not hold the initiative before the weekend as all of the coins from the top 10 list have come back to the red zone.

Top coins by CoinMarketCap
Top coins by CoinMarketCap

BTC/USD

Yesterday morning, the price of Bitcoin (BTC) tried to hold above the two-hour EMA55. Trades were held at small volumes, and there was no obvious advantage for the bears.

BTC/USD chart by TradingView
BTC/USD chart by TradingView

Bulls lost the vital zone around $46,000, which means that bears are more powerful than buyers at the moment.

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If the leading crypto fixes below $45,000, there are high chances to see the test of the green support level at $41,967. Such a scenario is relevant until the end of the month.

Bitcoin is trading at $46,732 at press time.

DOGE/USD

DOGE is the biggest loser from the list today as the price of the meme coin has dropped by almost 8% over the last 24 hours.

DOGE/USD chart by Trading View
DOGE/USD chart by Trading View

Bulls could not keep the growth going after a sharp rise to $0.22. If sellers keep pushing the rate more profoundly, one may expect a comeback to the support level at $0.1310.

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What is more, buyers are not showing any resistance based on the declining trading volume.

DOGE is trading at $0.1662 at press time.

SHIB/USD

SHIB has also followed the drop of DOGE, falling by 13% over the last seven days.

SHIB/USD chart by Trading View
SHIB/USD chart by Trading View

SHIB is following the price action of DOGE, as it is also approaching the support level at $0.00002952. This level plays a key role for buyers because, if they lose it, there might be a sharp drop to the next vital zone at $0.00002010.

SHIB is trading at $0.00003104 at press time.

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About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at denys.serhiichuk@u.today.