Can DOGE and SHIB outperform other coins?
|Bears have turned out to be more powerful than bulls on the last day of the week as most of the coins are in the red zone.
Top coins by CoinMarketCap
BTC/USD
Bitcoin (BTC) is among those coins who keep trading in the green zone. However, despite the slight growth since yesterday, it has fallen by 8.31% over the last week.
BTC/USD chart by TradingView
Bitcoin (BTC) could not fix above the $44,000 mark, which means that buyers might need more time to accumulate energy for further growth. Such a statement is also confirmed by the declining selling trading volume. In this case, the bullish scenario remains relevant if bulls can hold the vital $40,000 mark. In another case, a drop is possible to the support level at $32,871.
Bitcoin is trading at $42,557 at press time.
DOGE/USD
DOGE is the biggest gainer from today's list as the price of the meme coin has gone up by 3.62%.
DOGE/USD chart by Trading View
DOGE has made a false breakout of the recently formed resistance level at $0.1731. The price has also gone below another level at $0.1537, which means that one should not expect fast growth from the coin. In this case, the more likely scenario is sideways trading in the range of $0.14-$0.16 by the end of the month.
DOGE is trading at $0.1519 at press time.
SHIB/USD
SHIB has followed the rise of DOGE, rising by 2% over the past 24 hours.
SHIB/USD chart by TradingView
Despite today's growth, SHIB is neither bullish nor bearish in the mid-term secnario as the rate is located in the middle of a wide channel, between the support at $0.00001695 and the resistance at $0.00003523. The current weekly candle is about to close red, which means that bears control the situation at the moment.
SHIB is trading at $0.00002460 at press time.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.