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BTC, DOGE and SHIB Price Analysis for February 25

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Fri, 25/02/2022 - 16:01
BTC, DOGE and SHIB Price Analysis for February 25
Cover image via www.tradingview.com

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After a bounceback, bulls keep controlling the situation on the market as all of the top 10 coins are in the green zone.

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Top coins by CoinMarketCap
Top coins by CoinMarketCap

BTC/USD

Yesterday morning, the recovery of the Bitcoin (BTC) price was not supported by large volumes of purchases, but in the evening, trading volumes began to increase, and the bulls managed to form a powerful impulse. This marked a local maximum at $39,720.

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

Overnight, the pair consolidated above the average price level and is trying to stay in a narrow consolidation around the $38,700 mark. Today, the lateral range may expand.

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If the two-hour EMA55 can keep the BTC price from falling, then soon the recovery can continue above $40,000. If the bears push through the $37,200 level (37,149.97 USD), then the price can sink to the support of $36,000.

Bitcoin is trading at $39,274 at press time.

DOGE/USD

DOGE is a bigger gainer than Bitcoin (BTC) as its rate has risen 12% over the past day.

DOGE/USD chart by TradingView
DOGE/USD chart by TradingView

DOGE remains bullish as bulls can hold the rate above the support level at $0.1204. If buyers can stay around the zone of $0.13 and accumulate power, there is a chance to see further growth to the zone of the most liquidity at $0.17. However, if seller pressure continues, the drop may lead to $0.11.

DOGE is trading at $0.1252 at press time.

SHIB/USD

SHIB is the biggest gainer today as the price of the meme coin has risen by almost 13%.

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

Depsite the growth, SHIB is neither bullish nor bearish as the price is located in the middle channel between the support at $0.00001704 and the zone of the most liquidity at $0.00003083 that serves as resistance. The selling volume remains high, which means that one may expect a drop to the area of $0.000020 shortly.

SHIB is trading at $0.00002436 at press time.

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