BTC, DOGE and SHIB Price Analysis for February 14
The new week has started with neutral sentiment in the market as some coins trade in the green zone while others remain in the red.
Over the weekend, buyers tried to push the price of Bitcoin (BTC) back above the two-hour EMA55, but were unable to overcome the resistance from the average price level.
Towards the end of the week, the pair slipped back below USD 42,450, and the price of BTC tested the Point Of Control (POC) indicator line ($41,650).
If the POC line fails to hold the price during short-term consolidation, the decline could continue to the psychological level of $40,000. If bulls find support, they may try to regain a foothold above the EMA55 moving average.
Bitcoin is trading at $42,503 at the time of writing.
DOGE is the biggest loser today, down more than 5% since yesterday.
Despite the fall, the price of the meme coin is close to the USD 0.1506 resistance level. The trading volume thus increases, confirming the strength of the bulls.
If the daily candle fixes around the $0.15 area, there is a good chance the breakout will happen in the coming days.
DOGE is trading at $0.1461 at the time of writing.
SHIB outperforms DOGE, but is also under bear pressure and is down 4%.
Despite the fall, SHIB continues to trade in the channel between the zone of most liquidity, which serves as a resistance, and the support at $0.00002537. If buyers can seize the initiative and take the price to $0.000031, the price could break the resistance and move towards $0.000040 by the end of the week.
SHIB is trading at $0.000030 at the time of writing.