Bitcoin, Shiba Inu and Dogecoin – European Wrap 8 March


Bitcoin price action is back on the front foot today as global markets surf positive news of a ceasefire and fresh round of talks between Russia and Ukraine. The lift in positive sentiment spilled over into cryptocurrencies and saw positive prints across the board. Bitcoin was no different, with the price up 2.30% for the day at the time of writing and a possible tick of over 4% profit going into the U.S. session this evening

 

BTC/USD daily chart

Shiba Inu (SHIB) price action was on the back foot these past few days with some firm rejections last week at the monthly pivot and the 55-day Simple Moving Average (SMA) – providing bears with two entry points . Add to that equation a stronger dollar as a safe-haven, and SHIB price was under double pressure from two bearish forces. With the announcement of the third round of peace talks, markets are optimistic and triggering a relief rally that could tick $0.00002400 intraday, and could even go all the way to $0.00002700 should further relief signals emerge from global markets.

 

SHIB/USD daily chart

A brief technical and on-chain analysis on Dogecoin price. Here, FXStreet’s analysts evaluate where DOGE could be heading next.

 

 

 

 



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