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BTC, DOGE and SHIB Price Analysis for March 11

Fri, 03/11/2022 - 15:40
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Denys Serhiichuk
Can the meme coins grow against Bitcoin (BTC)?
BTC, DOGE and SHIB Price Analysis for March 11
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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Bears are keeping the pressure on; however, some coins have come back to the green zone.

Top coins by CoinMarketCap
Top coins by CoinMarketCap

BTC/USD

The rate of Bitcoin (BTC) has declined by 0.35% over the past 24 hours.

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

On the daily chart, Bitcoin (BTC) is fighting for the $39,000 mark against a high trading volume. From the technical point of view, the rate keeps trading in a wide range, accumulating power for a further sharp move.

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BTC, ETH and XRP Price Analysis for March 10

However, if the decline continues to the $38,000 level, there is a possibility of seeing the price decrease to the zone of $34,000-$35,000 shortly.

Bitcoin is trading at $39,045 at press time.

DOGE/USD

DOGE is the biggest loser from the list today as the drop has accounted for 0.45% since yesterday.

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

DOGE has continued its drop after it could not fix above the $0.12 mark. Bears are keeping the pressure on against the declining trading volume. If nothing changes, there is a chance to see the test of the support level at $0.1065 once again. Such a scenario is relevant until the end of the week.

DOGE is trading at $0.1158 at press time.

SHIB/USD

SHIB is the only coin whose rate is in the green zone. It has risen by 0.30% over the past day.

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

Despite the rise, SHIB has gone below the important support level at $0.00002310. If buyers cannot seize the initiative and return the price to the bullish area, the decline may lead the rate to the next vital level at $0.00002071. All in all, the mid-term price action remains bearish as long as buyers cannot get back to the zone around $0.000024.

SHIB is trading at $0.0000224 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.