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BTC, DOGE and SHIB Price Analysis for February 25

Fri, 02/25/2022 - 16:01
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Denys Serhiichuk
How long is the current bounceback going to last?
BTC, DOGE and SHIB Price Analysis for February 25
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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After a bounceback, bulls keep controlling the situation on the market as all of the top 10 coins are in the green zone.

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.

Related
BTC, ETH and XRP Price Analysis for February 22

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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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.