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BTC, DOGE and SHIB Price Analysis for March 15

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Tue, 15/03/2022 - 14:20
BTC, DOGE and SHIB Price Analysis for March 15
Cover image via www.tradingview.com

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Bears keep controlling the situation on the market as most of the coins are in the red zone.

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Top coins by CoinMarketCap
Top coins by CoinMarketCap

BTC/USD

Bulls could hold the rate of Bitcoin (BTC) above $39,000 for a long time. The decline since yesterday has accounted for 0.74%.

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

Nothing has changed so far from the mid-term point of view, as the rate of BTC remains trading in the channel, accumulating power for a further sharp move. The bearish scenario may become relevant again if the the drop continues to $38,000.

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However, if buyers can seize the iniatiave and try again to fix above the $39,000 mark, the rise may return BTC to the zone of the most liquidity around $42,000.

Bitcoin is trading at $38,660 at press time.

DOGE/USD

DOGE is the main loser today as the decline of the meme coin has constituted 2.96% over the last 24 hours.

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

DOGE is looking bearish as the price is getting closer to the support level at $0.1065 on the daily chart. If the drop continues and the daily candle closes below the mentioned mark or around it, there is a high possibility to see the decrease below the important mark of $0.10.

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Such a scenario is relevant until the end of the current month.

DOGE is trading at $0.1117 at press time.

SHIB/USD

SHIB is following the price action of DOGE with a price decrease since yesterday of 2%.

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

SHIB is the on its way to its support level at $0.00002071. The trading volume is going down, which means that bears might find it difficult to break the level from the first attempt. However, if they keep pusing the rate more profoundly, a breakout may be a prerequiste for a test of the next support level at $0.00001704 shortly.

SHIB is trading at $0.00002145 at press time.

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