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BTC, DOGE and SHIB Price Analysis for January 29

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Sat, 29/01/2022 - 16:30
BTC, DOGE and SHIB Price Analysis for January 29
Cover image via www.tradingview.com

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Most of the coins have returned to the bullish trend at the beginning of the weekend.

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Top coins by CoinMarketCap
Top coins by CoinMarketCap

BTC/USD

Bitcoin (BTC) has started the weekend with continued growth, rising by 3.24%.

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

On the daily chart, Bitcoin (BTC) is coming back to the recently formed local resistance level at $38,050 against the declining trading volume. If bulls can break it and fix above, there are high chances to see a test of the zone around $40,000 next week.

Bitcoin is trading at $37,837 at press time.

DOGE/USD

DOGE is following the rise of Bitcoin (BTC), going up by 2.36%.

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

Despite today's rise, the rate of DOGE remains trading in the channel between the support at $0.1310 and the resistance at $0.1506. In this case, neither bulls nor bears are dominating while the meme coin is trading sideways. However, if the price slightly approaches the $0.1506 mark, one may expect a bullish trend reversal.

DOGE is trading at $0.1426 at press time.

SHIB/USD

SHIB is not an exception to the rule, rising by almost 3% over the last 24 hours.

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

From the technical point of view, SHIB is trading similarly to DOGE as the price is located in the middle of the channel. Currently, one needs to pay close attention to the support and resistance levels. If bulls cannot fix above the zone of $0.000020, there is a possibility to see the retest of the resistance soon.

SHIB is trading at $0.00002154 at press time.

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