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BTC, DOGE and SHIB Price Analysis for January 25

Price Analysis
Tue, 01/25/2022 - 15:45
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Denys Serhiichuk
Can the meme coins rise against Bitcoin (BTC)?
BTC, DOGE and SHIB Price Analysis for January 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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Bulls are trying to hold the gained initiative as all of the top 10 coins remain in the green zone.

Top coins by CoinMarketCap
Top coins by CoinMarketCap

BTC/USD

Yesterday morning, the decline in the price of Bitcoin (BTC) continued to a new January low. The bears failed to test the $32,500 support, so the low ended up around the $32,950 mark.

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

In the afternoon, the price recovered to the area of ​​average prices, and late at night, buyers tested the $37,149 level. Overnight, buying volumes declined, and the pair failed to consolidate above the two-hour EMA55.

Related
BTC, DOGE and SHIB Price Analysis for January 23

This morning, the level of $36,000 is holding the price from a deep pullback and buyers will try to continue the recovery in order to gain a foothold above the EMA55 moving average. In this case, the daily high can be expected in the area of ​​$38,600.

Bitcoin is trading at $36,765 at press time.

DOGE/USD

DOGE is the biggest gainer from the list today as the price of the meme coin has risen by almost 10%.

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

DOGE has successfully bounced off the support at $0.1310 again, which confirms the bulls' strength to hold this level. If they can keep the rise of DOGE, the rate can get to the zone of the most liquidity around $0.20. However, such a scenario may happen at the beginning of February 2022.

DOGE is trading at $0.1392 at press time.

SHIB/USD

SHIB has followed the rise of DOGE, going up by 8.73% since yesterday.

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

SHIB is trading similarly to DOGE as its price is also located above the support at $0.00001947. The selling volume is declining, which means that bears are using their energy to further the drop.

Related
BTC, ETH and XRP Price Analysis for January 22

In this case, there are chances to see consolidation around $0.000020, followed by a slight rise.

SHIB is trading at $0.00002094 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.