BTC, DOGE and SHIB Price Analysis for Feb 2
Bulls couldn’t hold the initiative for long and most of the coins have returned to the red zone. Polkadot (DOT) is the only exception to the rule, with an increase of 1.35%.
Yesterday, the bulls attempted to breach the USD 38,900 resistance. In the evening, one of the weak bullish impulses was able to breach this level and mark the daily high at $39,285.
Buyers failed to stay in the high zone and the price bounced back to the $37,600 area. A break into the $40,000 resistance is possible today.
It is believed that a retest of the psychological figure could spark a surge in sales that could push Bitcoin (BTC) price below the two-hour moving average EMA55.
Bitcoin is trading at $37,670 at the time of writing.
DOGE has tracked Bitcoin (BTC)’s decline, with a slight correction of 1.13%.
The current drop in price has not affected the speed of DOGE too much in terms of further sharp moves. The price is in the middle of the channel meaning neither bulls nor bears dominate at the moment.
However, if seller pressure continues and the price moves back to $0.1310, there is a possibility of seeing a breakout of the support soon.
DOGE is trading at $0.1407 at the time of writing.
SHIB is the biggest loser today as the meme coin is down 3.14%.
From a technical standpoint, SHIB trades the same as DOGE as there is a slim chance of seeing sharp moves quickly due to buyers and sellers weakness. Overall, you should pay close attention to the support level at $0.00001704 and the resistance at $0.00002537.
SHIB is trading at $0.00002099 at the time of writing.