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BTC, DOGE and SHIB Price Analysis for March 2

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Wed, 2/03/2022 - 15:28
BTC, DOGE and SHIB Price Analysis for March 2
Cover image via www.tradingview.com

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After a few days of growth, some coins are facing some corrections. Meanwhile, Solana (SOL) is the exception to the rule, rising by more than 4% over the last 24 hours.

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Top coins by CoinMarketCap
Top coins by CoinMarketCap

BTC/USD

The rate of Bitcoin (BTC) is facing a slight correction after a sharp rise recently. The drop has made up around 1% since yesterday.

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

Despite the minor price decrease, the rate is about to get to the local resistance at $45,478. If bulls can keept the pressure until the end of the day, the breakout of the level may take place shortly.

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In this case, there is a chance to see the mid-term growth up to the psychological $50,000 mark. However, in case of a rollback to $40,000, the current scenario may not happen.

Bitcoin is trading at $43,995 at press time.

DOGE/USD

Unlike Bitcoin (BTC), DOGE is going up by 0.54% over the past 24 hours.

DOGE/USD chart byTradingView
DOGE/USD chart by TradingView

After the false breakout of the resistance at $0.1350, the price is coming back to this level, showing the bulls' power.

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If the buyers' pressure continues and the volume increases, there is a probability of seeing the growth leading DOGE to the area of $0.14-$0.15 until mid-March.

DOGE is trading at $0.1340 at press time.

SHIB/USD

The rate of SHIB is falling by 2.73% since yesterday.

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

SHIB could not follow the rise of DOGE as it made a false brekaout of the resistance at $0.00002755. If bulls cannot hold the rate from the current levels, there is a chance to see the decline to the zone around $0.000025. Such a scenario is relevant until the end of the week.

SHIB is trading at $0.00002621 at press time.

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