BTC, DOGE, and SHIB Price Analysis for January 11
Bulls might have seized the initiative on the market as all coins from the top 10 list are in the green zone.
Yesterday, sellers managed to form a bearish impulse and test the psychological level of $40,000. The January low is set around $39,560.
Buyers reacted with large buying volumes, and the BTC price recovered to the two-hour EMA55 area. Today, this moving average is right at $42,447. If the bulls lose momentum and cannot continue the recovery, then the market has not yet bottomed out.
A break above the $42,447 level can serve as the first signal of a reversal of the market.
Bitcoin is trading at $41,933 at press time.
DOGE is the biggest gainer from the list today, rocketing by 5.35%.
DOGE made a false breakout of the $0.16 zone today. At the moment, neither bulls nor bears are dominating the market. If the daily candle fixes at least above $0.15, buyers will have the chance to gain power and seize the initiative. In the other scenario, a fall below $0.1310 might confirm ongoing bearish pressure.
DOGE is trading at $0.1506 at press time.
SHIB has followed DOGE, rising by 3.92% since yesterday.
Despite today's rise, the price is trading below the zone of the most liquidity at $0.00002903.
If buyers get back in the game and restore the rise, the fall may continue to the nearest support level at $0.00002010 per SHIB.
SHIB is trading at $0.00002719 at press time.Source