Two days ago, a crypto analyst accurately forecasted a Dogecoin price crash, which has since taken place. According to the analyst’s latest projections, Dogecoin is poised for a steeper decline, with an anticipated 30% crash from its current trading price. Analyst Forecasts 30% Price Crash The Dogecoin price has crashed to $0.35, marking a substantial 14% decrease over the past seven days. Earlier this month, Dogecoin was trading above $0.4 after experiencing a sharp rise driven by the positive market sentiment fueled by Donald Trump’s victory in the US Presidential elections. Related Reading: Bitcoin Price Still Mirroring Bullish Move From 2023, What To Expect After Hitting $108,000 ATH A TradingView crypto analyst, known as the ‘MMBTrader’ who accurately predicted Dogecoin’s recent price crash, has now updated his forecasts to warn of further potential declines. The analyst shared a chart, analyzing Dogecoin’s price action and potential future movements. Currently trading above $0.3, the DOGE price is slowly approaching a critical resistance, illuminated by the red zone at the $0.438 level. The red arrow on the chart illustrates a potential short-term correction, set to trigger a Dogecoin price crash to the central support zone near the $0.25 mark. This substantial price drop would indicate a 30% decline from Dogecoin’s current price. Additionally, the analyst suggests that this projected price crash is a retracement, aligning with 0.618, the Fibonacci level indicated on the chart. The TradingView analyst has also revealed that if the Dogecoin price can establish strong support at the $0.25 level, it could confirm a bullish trend continuation. Such a development could pave the way for a potential Dogecoin price rally in the near term. Moving ahead, the green arrows in the analyst’s DOGE price chart represent the next potential phase pump. The analyst has predicted that a solid rebound from the $0.25 support level could trigger a new bullish phase for Dogecoin. Additionally, he projects a new bullish target towards the $0.75 area for Dogecoin, marking a significant leap to new price highs. Overall, the TradingView analyst has pinpointed $0.45 as the level to watch out for. Although a drop to $0.25 would mark a 30% crash for Dogecoin, a potential surge to $0.75 would represent a 115% price increase. Dogecoin Price Breakout To $1 Sighted While Dogecoin faces volatility and declines, Trader Tardigrade, a prominent crypto analyst, has expressed confidence regarding the meme coin’s potential shift to the upside. According to the analyst, Dogecoin is currently moving in a defined range between $0.33 and $0.49, highlighted by the purple rectangle in the price chart. Related Reading: XRP Price Ready To Run To $11 ATH? Alternative Larger Metrics Show The Answer Looking at the chart, this range represents a period of consolidation during which the price of Dogecoin appears to fluctuate between resistance and support zones. The analyst has depicted that a breakout above the range’s upper boundary could continue Dogecoin’s rally to new all-time highs at $1.05. Featured image created with Dall.E, chart from Tradingview.com
The Bitcoin price action in the past 24 hours saw it breaking below the $100,000 price mark again very briefly before breaking above it again. Particularly, Bitcoin’s price action in the past 24 hours has been between $98,839.87 and $105,306, highlighting the potential corrections that could occur as the cryptocurrency continues to edge upwards. This fluctuation comes amid a broader bull market cycle that analysts like CryptoCon suggest is far from over. Bitcoin Crash Below $100,000 Not The End Crypto analyst CryptoCon has been a consistent voice in tracking Bitcoin’s movements using Fibonacci extensions during the current market cycle. Back in August, when Bitcoin was hovering around $60,000, CryptoCon projected a surge to $109,236 by December. This prediction was based on the 0.618 Fibonacci extension and eventually played out with remarkable accuracy. Related Reading: Cardano Price Eyes Recovery Toward $2 As Million-Dollar Whale Transactions Explode On The Network Since first breaking above the $100,000 mark on December 5, this price point has proven to be a psychological barrier and there have been multiple retests since then. Despite this back and forth, Bitcoin enthusiasts remain strongly optimistic, and the Crypto Feat And Greed Index remains in Extreme Greed. As such, the correction in the past 24 hours is viewed by CryptoCon as a minor event in a larger narrative. According to the analyst, Bitcoin’s rise to $109,000 marked just one step in its ongoing journey. The analyst emphasized that corrections, while inevitable, are becoming less significant in the context of the increasingly well-established bull market. “Corrections are an afterthought. That doesn’t mean they won’t come, it just means they’re not important,” CryptoCon said regarding corrections. The Next Target: $166,000 By February 2025 Looking ahead, CryptoCon has turned attention toward the 5.618 Fibonacci extension as the next key milestone in Bitcoin’s ongoing bull market. This projection aligns closely with a price target of approximately $162,000. According to the analyst, this ambitious target could materialize as soon as February 2025, given Bitcoin’s current rate of price growth. Related Reading: Analyst Who Correctly Predicted The Fantom Breakout Above $1 Reveals What’s Next In The Parabolic Trend At present, Bitcoin is trading at $101,600. For the cryptocurrency to reach the $162,000 level, it would need to register another 60% increase from its current price point. CryptoCon does not see the February 2025 target as the conclusion of Bitcoin’s bull run. In fact, the prediction is accompanied by a detailed multi-year chart outlining Bitcoin’s consistent upward trajectory since November 2023. This chart highlights a pattern of steady 52% gains before encountering resistance at Fibonacci extension levels. The path to $162,000 is viewed as one of some price targets before notable corrections. Interestingly, the analysis also hints at an even loftier price target tied to the 6.618 Fibonacci extension level. If Bitcoin were to reach this extreme milestone, it would translate to a price of around $254,100. For now, Bitcoin appears ready for a steady continued growth above $100,000, with corrections in between. Featured image created with Dall.E, chart from Tradingview.com
According to new reports, Dogecoin’s market sentiment has plummeted significantly, turning negative once again as its price consolidates. This bearish trend raises the question of whether it is time for investors to buy or sell off their DOGE tokens to avoid future losses. Dogecoin Market Sentiment Dwindles On Tuesday, crypto analyst Ali Martinez announced on […]
The recent XRP price action has been highlighted by another notable surge that saw it reaching just above $2.7 briefly again after a 9% surge on December 17. Although the XRP price was rejected immediately after reaching this level, it continues to exhibit bullish momentum on the daily timeframe chart. Interestingly, popular crypto analyst and […]
A crypto analyst has shared an XRP price chart, analyzing its action on the 4-hour timeframe while pinpointing key metrics of strength that suggest a possible rally. The analyst has predicted that XRP is preparing for a significant run to $11, marking a new All-Time High (ATH). Key Metrics Suggest XRP Price Set For $11 Surge In an X (formerly Twitter) post on Tuesday, prominent crypto analyst Javon Marks shared key observations of XRP’s price behavior, noting signs of strength through crucial metrics and a potential for a significant price rally to a new ATH at $11. The analyst has suggested that XRP shows clear upward momentum, with a sharp increase visible on the presented price chart. Related Reading: Ethereum Price Crash Incoming? Tron’s Justin Sun Unstakes $209 Million ETH From Lido Finance Looking at the chart, XRP has been breaking recent resistance levels and maintaining bullish momentum. XRP’s strongest resistance at $0.5, which lasted for over three years, was broken earlier in November, jumping above $1 following Donald Trump’s victory in the US Presidential elections. Currently, the XRP price is trading above $2.5, underscoring the massive growth surge it has experienced in less than two months. Marks has revealed that he was keeping a close watch on alternative larger-term metrics for the XRP price that signal a potential surge to new ATHs. The volume bars below the price chart indicate steady buying pressure for XRP, with increasing trading volume during upward trends. Recently, the XRP accumulation trend among large holders has increased significantly. Crypto analyst Ali Martinez revealed via a price chart that whales have purchased a staggering 30 million XRP within the last 24 hours. This increased buying activity reflects the growing confidence in XRP, possibly fueled by the market’s bullish sentiment and expectations of a price rally. At the bottom of the XRP chart shared by Marks, the Relative Strength Index (RSI) illustrates a sharp upward curve, signaling the potential for a bull rally. The RSI appears as a fluctuating black line, clearly reflecting rising momentum. If XRP can sustain its current uptrend, it could surpass its current all-time high of $3.84 set during the 2021 bull market, potentially reaching a new high above $11 in this bull cycle. Update On XRP Analysis The XRP price has been persistently attempting to break through the resistance area at $2.5, aiming to reach new highs. Over the past month, XRP has had an impressive performance, recording a whopping 119.5% price increase. Despite being in consolidation, the cryptocurrency continues to exhibit strong growth, with its price climbing nearly 8% in the last seven days as it attempted to break through key resistance levels. Related Reading: Bitcoin Price Moves Similarly To The Elliot Wave Count From 2017, Why Price Can Jump Another 80% Data from CoinMarketCap has revealed that the XRP price is currently trading at $0.252. The cryptocurrency remains the third largest based on market capitalization after Bitcoin and Ethereum. Additionally, XRP has seen a notable increase in its daily trading volume, surging by 53.72% at the time of writing. Featured image created with Dall.E, chart from Tradingview.com
Crypto analyst Lebicahlz has predicted that the Dogecoin price is set to witness a major explosion, which would send it to new all-time highs (ATHs). The analyst also provided price targets that Dogecoin could reach as it rallies to new highs. Dogecoin Price Set To Reach New ATHs In a TradingView post, Lebicahlz said he […]
The Cardano price has recently rejected around the $1.1 price level. Notably, the past three months have been highlighted by a remarkable Cardano surge that saw it break above $1 for the first time since early 2022 and peak at $1.3 on December 3, 2024. Although Cardano has managed to hold above the $1 mark since then, price action in the past 24 hours has been highlighted by a 3.77% decline alongside the rest of the crypto market. However, on-chain data shows that the decline has given crypto whales another opportunity to double down on their holdings. Surge In Whale Transactions Reflects Continued Confidence In Cardano A surge in whale activity on the Cardano network has brought forward another spirit of accumulation among the holder cohort, with prominent crypto analyst Ali Martinez highlighting the development on the social media platform X. Martinez noted that 687 transactions with a value of at least $1 million were recorded within the past 24 hours, pointing to increasing interest from large investors. Related Reading: Bitcoin Price Moves Similarly To The Elliot Wave Count From 2017, Why Price Can Jump Another 80% According to data from the on-chain analytics platform Santiment, this increase in activity is particularly notable, as the whale activity had been declining since the beginning of December. Particularly, Cardano whale activity declined from about 894 transactions on December 2, just before it reached its current 2024 peak of $1.3, to around 240 transactions between December 8 and December 12. Whale activity is one of the biggest indicators of a network’s performance and its price outlook. Although the whale activity could also point to whales exiting their positions, current market sentiment points to accumulation instead. Furthermore, the increase in whale activity is an indication of continued confidence in the cryptocurrency’s price outlook. The Path To $2: What Lies Ahead For Cardano? As it stands, the recent rejection at $1.11 has seen the Cardano price decline to retest the support at $1. At the time of writing, Cardano (ADA) is trading at $1.03, although there remains a risk of a further move to the downside. Related Reading: Ethereum Price Crash Incoming? Tron’s Justin Sun Unstakes $209 Million ETH From Lido Finance However, the surge in whale transactions is one bullish signal that could send the cryptocurrency on a bounce upwards due to its counterweight action against selling pressure. The next target remains a final break above the $2 threshold, which might still be achievable before the end of the year. Reaching the $2 price target, which is about 94% from its current price level, would require a general bullish sentiment in the wider crypto market. Interestingly, crypto analysts at Changelly have presented a more cautious outlook with a year-end ADA price of $1.15. Nonetheless, Cardano has more than tripled in its value in the past six weeks and it could resume this momentum anytime soon towards $2 if the bulls can continue to hold above the $1 mark. Featured image created with Dall.E, chart from Tradingview.com
Crypto analyst Charting Guy has provided a major update on the Bitcoin price action as BTC hit a new all-time high (ATH) at $108,000. The analyst drew similarities between the current price and that of 2023 while revealing what could happen next for the flagship crypto. What Next As Bitcoin Price Mirrors 2023 Move In an X post, Charting Guy revealed that the Bitcoin price is still following 2023. The analyst predicted that the flagship crypto could hit the $110,000 to $120,000 area on this leg up, with this surge expected to happen later this week or early next week. Bitcoin looks to already be on its way to this price target, having recently hit a new ATH at $108,000. Related Reading: Analyst Who Correctly Predicted The Fantom Breakout Above $1 Reveals What’s Next In The Parabolic Trend Charting Guy also predicted that the Bitcoin price would tap the resistance on the daily Relative Strength Index (RSI), forming a triple bearish divergence, marking a slight local top for the flagship crypto. Once that happens, the analyst believes that Bitcoin will consolidate between $105 and $115,000 for a few weeks. The Bitcoin price could then record a fakeout move up to the $125,000 to $130,000 range into Donald Trump’s inauguration with a quick dump afterwards. Charting Guy predicts that this dump could maybe lead to a final retest of the $100,000 psychological level. Once that is done, Bitcoin could then begin the final leg up, starting from mid-February to the 1.618 Fibonacci level at around $170,000. The analyst opined that this could mark the final cycle top. What Happens As BTC Consolidates As the Bitcoin price consolidates from around Christmas to Donald Trump’s inauguration, Charting Guy believes that altcoins will go “absolutely insane.” The analyst also predicts that these altcoins will witness another parabolic rally roughly one month after Bitcoin tops in late March. Related Reading: Ethereum Price Crash Incoming? Tron’s Justin Sun Unstakes $209 Million ETH From Lido Finance These altcoins are expected to rally higher while the Bitcoin price makes lower highs. Charting Guy noted that different altcoins could top at different times. Some could happen at the start of next year, some during the Inauguration, and others when BTC tops in March or possibly extend to April. The analyst is confident that all these altcoins will get a major top in the first quarter of next year, with an extension to April possible for some coins. Charting Guy stated that the exact top for these altcoins will depend on each altcoin and its chart structure, wave count, Fibonacci levels, and other technical indicators. Specifically, the analyst highlighted LINK and XRP, stating that both coins could have their wave 3 topping in early Q1, with a wave 4 correction into the summer and a fifth wave higher high into August and September. The analyst added that the fifth wave isn’t really guaranteed and is speculative. Featured image created with Dall.E, chart from Tradingview.com
A crypto analyst on TradingView, known as ‘Tradecitypro,’ has published a detailed Fantom (FTM) report, breaking down the cryptocurrency’s price action across the daily and 4-hour timeframe. After accurately predicting Fantom‘s surge above $1, the analyst highlights key price levels, market trends, potential price movements, and bullish technical indicators for FTM’s next parabolic trend. Fantom Daily Timeframe: Signs Of Trend Weakness After correctly forecasting FTM’s price breakout at $0.84, the TradingView analyst has revealed that the cryptocurrency is now following a parabolic uptrend, supported by a curved ascending trendline. According to the analyst, Fantom’s price has reacted multiple times to this distinctive trendline, ending price corrections and resuming its upward momentum. During the last bullish surge during Fantom’s uptrend, the cryptocurrency broke past the 0.7707 resistance and rose to the weekly resistance zone at 1.1116, where it stabilized above that level. Moreover, several indicators suggest that FTM may be slowing down and losing momentum. Its candle sizes have been gradually shrinking, indicating reduced bullish activity. Additionally, price corrections have intensified, signaling increased selling pressures and potential profit-taking. Fantom’s trading volume has also declined, suggesting that traders’ interests might shift. Another technical indicator that is currently bearish is the Relative Strength Index (RSI), which is showing signs of divergence, signaling a potential reversal of the price of FTM drops below 55.74 on the RSI. Looking ahead, the TradingView analyst has revealed that a notable sign of sharp bullish trends and pre-pump movements is when a cryptocurrency exhibits weakness and a potential for a price reversal. If the current bearish trend for Fantom continues, the analyst has set the first minor resistance level at 1.6218. Additionally, if FTM can maintain a stable price above this zone, its next and strongest resistance could be at 3.2506. This resistance zone is near FTM’s all-time high of $3.46, representing a significant supply region. On the other hand, if FTM experiences a price correction, it would likely drop to the first support at the curved trendline. If the trendline is broken, the next price levels to watch are 1.1116 and 0.7707. A sustained price decline below 0.7707 would invalidate the previous bullish scenario for Fantom, potentially pushing the price further down to between 0.5349 and 0.2928. 4-Hour Timeframe: Ascending Channel And Potential Breakouts In the 4-hour timeframe, the TradingView analyst revealed that Fantom is currently moving within an Ascending Channel. The cryptocurrency’s price is interacting with the midline of the channel, providing temporary support. The analyst has revealed that no significant moves will be expected if Fantom remains within this Ascending channel. However, if the cryptocurrency can break out, it could lead to two potential scenarios: the start of a new parabolic trend or a trend exhaustion due to a loss in bullish momentum. The TradingView analyst has identified the price level at 1.636 as Fantom’s next static resistance. However, if FTM’s price has not yet reached this zone, the analyst suggests a safer strategy of taking long positions based on Dow Theory and channel breakouts. Featured image created with Dall.E, chart from Tradingview.com
The Dogecoin price is now at a decisive junction as it hovers near a support level that could determine its short-term direction. A recent analysis on TradingView highlights the importance of the $0.394 support, with outcomes pointing toward both bullish and bearish scenarios depending on price movement at this support level. Dogecoin’s Key Support Zone […]
Crypto analyst Tony Severino has drawn a similarity between the current Bitcoin price action and that of the 2017 bull run. Based on these similarities, the analyst raised the possibility of the flagship crypto witnessing an 80% surge from its current level. Bitcoin Price Eyes 80% Surge If History Repeats Itself In an X post, Tony Severino suggested that the Bitcoin price could rally to $190,000 if history repeats itself. This came as the analyst drew a comparison between the 2024 and 2017 Bitcoin Elliott Wave count, which indicated that Bitcoin could replicate the price movement from the 2017 bull run. Related Reading: Time To Sell XRP? Price Completes Head And Shoulder Pattern, Suggesting Crash To $2.2 Is Imminent The analyst’s accompanying chart showed that the Bitcoin price could reach $190,000 on the fifth wave, with this price target marking the peak for the flagship crypto in this cycle. This rally to $190,000 would be similar to how Bitcoin rose from $7,550 in the 2017 bull run to its market peak of $19,000. As to how this Bitcoin price rally to $190,000 will happen, the chart showed that Bitcoin could first retrace to around $104,000, then rally to around $123,000, followed by another price correction to $96,000. Once this price correction is done, Bitcoin will begin a new Elliott Wave count, which could eventually send its price to $190,000 on the Wave 5 impulsive move. In the meantime, the Bitcoin price is completing the Wave count, which began around late October, just before Donald Trump won the US presidential elections. Since then, Bitcoin has enjoyed bullish momentum and continued to reach new highs. The flagship crypto recently surged past $107,000 as optimism grows that Donald Trump’s administration will create the Strategic Bitcoin Reserve. BTC Could Reach $125,000 Before The Year Ends Crypto analyst Justin Bennett predicted that the Bitcoin price could reach $125,000 before the year ends. This came as the analyst stated that Bitcoin is going “full Santa Claus” mode and isn’t showing signs of slowing down. Bennett remarked that pullbacks might be hard to come by through the end of the year. The crypto analyst added that any potential pullback is unlikely, especially given the speculation that Bitcoin will become a US reserve asset under Donald Trump. In line with this, Bennett said he won’t be surprised if the Bitcoin price hits $116,000 or even $125,000 by the end of December. Crypto analyst Titan of Crypto stated that the Bitcoin price continues to ascend to the moon. The analyst predicted that the flagship crypto could rise to as high as $158,000, although his accompanying chart suggested that would happen next year. At the time of writing, the Bitcoin price is trading at around $106,559, up in the last 24 hours, according to data from CoinMarketCap. Featured image created with Dall.E, chart from Tradingview.com
Recent price action in the overall crypto market has seen the XRP price reversing into bullish momentum in the past 24 hours. Notably, buying trends and mentions on social media show that the bullish sentiment has never departed from XRP, even during its price rejection at the $2.9 level earlier this month. Interestingly, crypto analyst […]
The Ethereum price could face some turbulence, as Justin Sun, the founder of Tron (TRX), has unstaked a whopping $209 million from Lido Finance, a liquid decentralized staking platform for Ethereum. Compared to top cryptocurrencies like Bitcoin (BTC) and Dogecoin (DOGE), the Ethereum price has had a relatively muted performance, skyrocketing to $4,000 before consolidating and struggling to move higher. With the possibility of more sell-offs, Ethereum could see its price crashing down if Sun decides to dump more coins. Justin Sun Dumps ETH New reports from Spot On Chain, an AI-driven crypto platform, revealed that Sun recently applied to withdraw a staggering 52,905 ETH tokens worth about $209 million from Lido Finance. According to the on-chain data, this massive withdrawal was part of the ETH stash Sun allegedly accumulated between February and August 2024. Spot On Chain has revealed that the total amount of Ethereum Sun bought within this period amounted to 392,474 ETH tokens, valued at $1.19 billion. All of these tokens were purchased via three wallet addresses at an average price of $3,027. Presently, the total profit the Tron founder has acquired since his purchase is up to $349 million, representing a 29% increase from its purchasing price. Interestingly, on October 24, Sun had unstaked a massive 80,251 ETH tokens, worth over $131 million, from Lido Finance. Four days later, he transferred the entire amount to Binance, the world’s largest crypto exchange. This notable move took place just before the price of Ethereum had dropped sharply by 5% in mid-October, which could have resulted in a loss for Sun. Unsurprisingly, this is not the first time Sun has dumped Ethereum. Spot On Chain revealed earlier this month that the Tron Founder had been cashing in his Ethereum holdings during the market rally. In November, Sun deposited 19,000 ETH worth $60.83 million to HTX, a crypto exchange. Additionally, he transferred 29,920 ETH valued at $119.7 million to HTX again after its price surpassed $4,000 over the past week. These are just a few transactions the Tron founder has made with ETH over the past month. Given Sun’s history of large-scale asset movements, further sell-offs could impact the already fragile Ethereum market. Nevertheless, the lingering question remains whether the Tron founder will continue his Ethereum dumping spree. Ethereum Price Crash Ahead? While Sun has not publicly commented on his recent large-scale Ethereum withdrawals, the size and timing of these transactions could pose a problem for the altcoin’s future trajectory. Historically, large ETH liquidations have triggered a price crash due to increasing selling pressures. Related Reading: Time To Sell XRP? Price Completes Head And Shoulder Pattern, Suggesting Crash To $2.2 Is Imminent With the price of Ethereum still unstable and aiming for a stronger upward rally, further large-scale ETH dumps could exacerbate market volatility, especially if other investors or whales follow suit. For now, the price of Ethereum seems to be performing well, recording a more than 7% increase in the last seven days and a 28% surge over the past month, according to CoinMarketCap. Featured image created with Dall.E, chart from Tradingview.com
The Dogecoin price could be gearing up for a potential bullish move as it approaches a critical resistance level. Following the completion of its price consolidation, a crypto analyst has suggested that technical indicators point to a significant breakout to the upside. Key Factors Supporting A Bullish Outlook For Dogecoin Price Ghazi, a crypto analyst […]
Crypto analyst TradinSides has suggested that it might be time for investors to start closing their XRP long positions. This came as the analyst revealed a bearish pattern, which showed that the XRP price could witness a significant crash. XRP Price Could Crash As Head And Shoulder Pattern Forms In a TradingView post, TradinSides predicted that XRP could crash as the price could form the Head and Shoulders pattern, driving the crypto to $2.2 or below. The analyst stated that this price correction could happen if some bullish fundamentals don’t happen for the altcoin as expected. The fundamentals that TradinSides cited include the RLUSD stablecoin and the upcoming XRP ETFs. Related Reading: Extremely Bullish 88-Day Structure Appears On Bitcoin Price Chart After Hitting $105,000 ATH While these fundamentals present a bullish outlook for the XRP price, the crypto analyst stated that XRP still stands under heavy selling pressure due to the SEC’s decision to appeal the Ripple case ruling, which is impacting demand and market sentiment. TradinSides alluded to SEC Commissioner Caroline Crenshaw’s reappointment and how it could ultimately impact the Ripple case and the XRP price. The analyst noted that Crenshaw’s reappointment is set for December 18. However, if Crenshaw’s renomination fails, Donald Trump could nominate a new Commissioner. Crenshaw’s renomination is significant as the SEC must file its opening brief in the appeal case on January 15. If she is reappointed, she could vote in favor of the Commission filing its opening brief since she has been known to take an anti-crypto stance on several occasions. The crypto analyst believes the altcoin could face selling pressure if the SEC pursues the appeal. On the other hand, if the SEC withdraws its appeal, TradinSides predicts that the Commission could also withdraw its appeal. This would lead the agency to approve the pending XRP ETF applications, which could drive demand up. If this doesn’t happen, the crypto analyst predicts that the Head and Shoulders pattern could drive the XRP price to $2.2. The State Of Things In an X post, crypto analyst Dark Defender provided an update on the current XRP price action. He stated that the 4-hour time frame confirms the break for XRP. The analyst added that the daily time frame will be confirmed above $2.52. Once XRP breaks above that level, Dark Defender predicts that the altcoin will then rally to $2.72. Related Reading: Dogecoin Fails To Follow Bitcoin’s Recent Uptick: Is A New ATH Still Feasible This Cycle? The crypto analyst also highlighted crucial targets to watch out for. He stated that $5.85 and $8.76 are short-term targets. Meanwhile, he mentioned that $2.29, $2.24, $2.10, and $2.02 are support levels to watch out for. Dark Defender has before now predicted that the XRP price would eventually reach $18 in this market cycle. At the time of writing, the XRP price is trading at around $2.41, up in the last 24 hours, according to data from CoinMarketCap. Featured image created with Dall.E, chart from Tradingview.com
Crypto analyst Elalemiami has revealed that the Dogecoin price is about to test the Gaussian channel on the chart. The analyst also mentioned what he expects to happen when DOGE touches the Gaussian band. Dogecoin Price Could Touch $2.5 As DOGE Tests Gaussian Channel In a TradingView post, Elalemiami suggested that the Dogecoin price could […]
The XRP price has been trading on a consolidation path after reaching a six-year high of $2.9 on December 3. The cryptocurrency has struggled to maintain upward momentum, and recent analysis points to the playout of a descending channel. According to an analysis on TradingView, XRP’s price movement suggests a corrective downtrend confined within a descending channel on the daily chart. Nonetheless, XRP is on track for a rebound to the upside, with price targets around its current all-time high. Corrective Downtrend And Key Support Levels According to a TradingView analysis, XRP has been experiencing a corrective downtrend since December 3. On that day, the cryptocurrency reached a peak of $2.9 on Binance but faced rejection and dropped to a low of $2.25 on the same day before closing at $2.5. This marked the beginning of a bearish phase, as XRP subsequently formed two more consecutive daily bearish candles. Related Reading: XRP Price In Motion: Analyst Reveals The Next Major Supports And Resistances While the token attempted a brief upward rebound, the move was met with another rejection. The alternating pattern of upward and downward movements resulted in the formation of lower highs and lower lows, which is a characteristic of a descending channel. The descending channel is a temporary phase of price correction rather than a prolonged bearish outlook. Within this context, the TradingView analysis identifies initial support levels at $1.8890 and $1.6, which align closely with the 0.618 and 0.786 Fibonacci retracement levels when drawn from the $2.9 high. These levels are support zones where the cryptocurrency could stabilize if downward pressure persists. A successful defense of these supports might act as a springboard for a bullish reversal, paving the way for the next upward leg in XRP’s price trajectory. Failure to hold these levels could increase bearish pressure on the XRP price and drive the price further down to the most notable support at $1.5. Related Reading: Dogecoin Fails To Follow Bitcoin’s Recent Uptick: Is A New ATH Still Feasible This Cycle? Potential Rebound And Target Levels For XRP Price If the XRP price successfully rebounds from the identified support zones, it is expected to challenge resistance at $2.8, marking the first milestone on its upward journey. A notable break above $2.8 would open up a run towards the final target of $3.3450. At the time of writing, the XRP price is trading at $2.41 and is down by 0.9% and 2% in the past 24 hours and seven days, respectively. Reaching the $3.345 level is tantamount to a 39% increase from the current price levels. Furthermore, this would put the XRP price close to its current all-time high of $3.4. The bullish momentum required to reach $3.345 could also push the XRP price into new all-time highs from that point. Featured image created with Dall.E, chart from Tradingview.com
The Bitcoin price has continued its foray above the $100,000 threshold and is currently trading around new all-time highs. Following its recent surge to an all-time high (ATH) above $106,000, the Bitcoin price has played out an interesting pattern on the 1-day candlestick timeframe, which points to an extremely bullish outlook for the leading cryptocurrency. Notably, Master Kenobi, a popular crypto analyst on X, revealed an extremely bullish 88-day pattern on the Bitcoin price chart, drawing parallels to a similar pattern from late 2023. 88-Day Pattern Resembles Historical Symmetry On Bitcoin Price Chart Master Kenobi’s analysis begins with the identification of an 88-day structure that bears a striking resemblance to Bitcoin’s price movements in Q4 2023, just before the current bull market phase began. Taking to social media platform X, the analyst noted that the initial 37 days of the current pattern since November 2024 mimic a similar hidden distribution phase observed last year. Furthermore, both the price action and the daily Relative Strength Index (RSI) indicator align closely with the previous cycle. Related Reading: Dogecoin Fails To Follow Bitcoin’s Recent Uptick: Is A New ATH Still Feasible This Cycle? To visualize this, he connected critical points A1 to A2 and B1 to B2 on the relative strength index, which highlighted the symmetrical nature of the formations. According to Master Kenobi, the symmetry between these sequences suggests that Bitcoin’s ongoing trajectory could mirror its past, particularly in the next 51 days. While the analyst emphasizes that this observation is not a precise prediction, he believes it offers a framework for understanding Bitcoin’s behavior based on past behavior and the current structure. Projection Points To $124,300 By Early 2025 Bitcoin and other cryptocurrencies have been known to repeat their previous price performance from time to time. By analyzing historical price playouts and current patterns, analysts and traders are provided with a context of what to expect. Expanding on his analysis, Master Kenobi ventured into speculative territory by sketching a predicted price path for Bitcoin. Related Reading: XRP Price In Motion: Analyst Reveals The Next Major Supports And Resistances The analyst speculated that the next 51-day sequence could follow a similar trajectory to the past 51 days in late 2023, culminating in a price of $124,300 by January 31, 2025. At the time of writing, Bitcoin is trading at $105,000, having recently reached an intraday high and all-time high of $106,352 in the past 24 hours, according to CoinGecko. The leading cryptocurrency is already up 12% this month, and reaching the projected price target of $124,300 would translate to a further 18% increase. Whether Bitcoin repeats its price pattern in late 2023 remains to be seen, but current price action and crypto market sentiment suggest that the Bitcoin price has a lot of room to run in 2025. Featured image created with Dall.E, chart from Tradingview.com
With the XRP price set to make its next move, crypto analyst Dark Defender has revealed the next major support and resistance levels for the crypto. The analyst also suggested that XRP’s next move could happen sooner than expected. Next Major Support And Resistance Levels For The XRP Price In an X post, Dark Defender mentioned $2.42, $2.52, $2.71, and $5.85 as the next major support levels for the XRP price. Meanwhile, the crypto analyst highlighted $2.29, $2.24, $2.10, and $2.02 as the next major support levels for XRP. The analyst made these remarks while also alluding to a bull flag structure that had formed on XRP’s daily chart. Related Reading: Bitcoin Price Dominance And Altcoin Season: What The Sudden Volatility Means For The Market Dark Defender asserted that the XRP price would make its next move by tomorrow, noting that the current bull flag had reached its limit. The crypto analyst had recently highlighted a weekly bull flag on the XRP chart, which showed that the crypto could reach double digits in this market cycle. In his most recent X post, Dark Defender also provided an update on his XRP/BTC pair analysis. He stated that what was expected from the XRP price was coming and suggested that it might have already begun. Before now, the analyst predicted that XRP would record “tremendous” gains against its Bitcoin pair. Meanwhile, crypto analyst Ali Martinez recently highlighted a bull flag forming on the XRP price’s 4-hour chart. Based on this pattern, the analyst stated that XRP could experience a brief correction, then break out above $2.46 and rally to $4, which would mark a new all-time high (ATH) for XRP. Two Possible Scenarios For The Third Wave In an X post, crypto analyst CasiTrades outlined two possible scenarios for the third wave of the XRP price’s move to the upside. In the first scenario, XRP could record a typical move, extending to the 2.618 Fibonacci level. This puts the price target at $3.82, the crypto’s current ATH. Related Reading: Bitcoin Daily Bollinger Bands Expand, Why BTC Price Could Rise To $120,000 As Early As Next Week Meanwhile, for the second scenario, CasiTrades stated that if this third wave doesn’t extend, the XRP price could record the extension play in the fifth wave. If the third wave doesn’t extend, the price target will be $3.23 instead of $3.82. She added that this target is near XRP’s current ATH, so the extension play might not occur. CaiTrades cautioned that these are just projections and that the XRP price could adjust with the actual highs. However, she is confident that a big move is coming, as XRP has consolidated with minimal movement over the last day. At the time of writing, the XRP price is trading at around $2.51, up over 6% in the last 24 hours, according to data from CoinMarketCap. Featured image created with Dall.E, chart from Tradingview.com
Crypto analyst Trader Tardigrade has highlighted a bullish pattern that has formed on the Dogecoin price chart. Based on this pattern, the analyst predicted that the Dogecoin price could reach as high as $2.15 in this market cycle. Bull Flag Puts The Dogecoin Price Target At $2.15 In an X post, Trader Tardigrade revealed a bull flag that had formed on DOGE’s daily chart. He stated that there is a tight consolidation within the bull flag. The analyst added that a long flagpole projects the Dogecoin price target at $2.15. Interestingly, his accompanying chart showed that the rally to this target could happen before the year ends. Related Reading: XRP Price Breakout Above $10: Analyst Tells Community To Pay Attention To This Fractal The Dogecoin price could be well-primed for this rally to the upside. In another X post, Trader Tardigrade stated that a possible Dogecoin scenario has come up with a double-bottom chart pattern. He added that DOGE had formed two equal lows with a resistance at the neckline, which is at around $0.46. Meanwhile, the crypto analyst also recently stated that the Dogecoin price has gained more buying power with a bullish crossover on the moving average convergence/divergence (MACD). His analysis suggested that Dogecoin could break this resistance at $0.46 and rally to around $0.5 on the next leg of the DOGE bull run. This rally to $0.5 could just be the start of the projected rally to $2.15 based on the bull flag on the Dogecoin price chart. It is worth mentioning that Trader Tardigrade has before now provided more bullish predictions for Dogecoin in this market cycle. The analyst predicted that DOGE could reach as high as $30 in this cycle while advising market participants to start taking profits around $10. What The Next Move Could Look Like Crypto analyst KrissPax provided insights into what the next move up for the Dogecoin price could look like. He stated that following the double-bottom pattern on DOGE’s chart, a fractal from past price action shows a possible move up through Monday, followed by an upward trend until Christmas. However, the crypto analyst cautioned that there will be dips along the way. Related Reading: Bitcoin Price Dominance And Altcoin Season: What The Sudden Volatility Means For The Market Meanwhile, like Trader Tardigrade, KrissPax also highlighted the bull flag that has formed on DOGE’s daily chart. He stated that this bullish pattern points to the Dogecoin price reaching $0.69 by the end of the year. This would break Dogecoin close to its current all-time high (ATH) of $0.73. Crypto whales look to be positioning themselves for this Dogecoin price rally. Crypto analyst Ali Martinez revealed that these investors bought 160 million DOGE in 24 hours. At the time of writing, the Dogecoin price is trading at around $0.4, up over 1% in the last 24 hours, according to data from CoinMarketCap. Featured image created with Dall.E, chart from Tradingview.com
The Shiba Inu price is flashing bullish signals that could pave the way for an impressive 130% rally to new levels. A crypto analyst has highlighted a pattern of higher highs, solidifying his optimistic price projection of an imminent price surge for SHIB. Shiba Inu Price Gears Up For 130% Rally Klejdi Cuni, a TradingView crypto analyst, has released a detailed chart analysis displaying a bullish set-up for the Shiba Inu price. The chart highlights an ascending oval trend, with Shiba Inu consistently making higher highs on the daily. Related Reading: Bitcoin Daily Bollinger Bands Expand, Why BTC Price Could Rise To $120,000 As Early As Next Week The analyst disclosed that Shiba Inu has repeatedly faced strong support around the $0.00002424 level for about a month. This retest of the support level signals an Accumulation zone, where buyers consistently step in to avoid further price decline. Sharing a price chart, the analyst has set several upward targets as Shiba Inu continues its bullish trajectory. The sharp upward curve in the chart also indicates that the SHIB price could enter a strong parabolic move upwards after breaking key resistance levels. Cuni projects a steady but substantial price increase for Shiba Inu, projecting that the meme coin could surge 130% to reach an initial target of $0.00003232 in the near-term resistance. The analyst has also predicted that Shiba Inu could hit a second target at $0.00004167. If Shiba Inu can maintain its bullish momentum and stay above $0.000041, Cuni believes a significant breakout level to the third target at $0.00005675. Finally, representing the highest target on the price chart, the TradingView analyst forecasts a massive surge to $0.00007012. Although reaching these bullish price targets would mark a significant milestone for the Shiba Inu price, it would still fall well below the meme coin’s all-time high of $0.000086. This all-time high was achieved during the bull run in 2021 when the demand and price of meme coins surged dramatically. Related Reading: XRP Price Breakout Above $10: Analyst Tells Community To Pay Attention To This Fractal Cuni explained that Shiba Inu had already achieved his first projected target. However, despite being a meme coin, Shiba Inu has not displayed a price action similar to that of other meme coins in the market. Analyst Says SHIB ATH Incoming The Shiba Inu price is currently trading at $0.000028 after experiencing an 8% decline over the past week, according to CoinMarketCap. The meme coin had been one of the top gainers of this bull market, having surged above $0.00003 recently. With its current price action signaling a potential reversal, a prominent crypto analyst, identified as ‘The CryptoBull,’ has predicted that Shiba Inu could reach new all-time highs this bull cycle. Related Reading: XRP Price Breakout Above $10: Analyst Tells Community To Pay Attention To This Fractal The analyst shared a chart in an X (formerly Twitter) post displaying Shiba Inu’s price movements from May 2022 to the present. The analyst suggests that if Shiba Inu crosses $0.00003285, the meme coin could see an explosive surge to $0.00008852, making a new ATH. Featured image created with Dall.E, chart from Tradingview.com
The Dogecoin price action is currently locked between two critical technical levels, the macro golden pocket and the macro 0.5 Fibonacci retracement level. This observation was highlighted by crypto analyst Kevin (@Kev_Capital_TA) on the social media platform X. Interestingly, according to the analyst, Dogecoin’s immediate fate hinges not on its internal dynamics but on external factors, primarily […]
Crypto analyst Trader Tardigrade has provided an update on Dogecoin’s current price action. The analyst revealed that the meme coin has signaled a bullish crossover on the moving average convergence/divergence (MACD) and suggested where the DOGE price is headed next. Dogecoin Flashes Bullish Pattern In an X post, Trader Tardigrade revealed that Dogecoin’s MACD has […]
According to Tony Severino, a crypto analyst on X (formerly Twitter), the Bitcoin price could surge significantly to $120,000 by next week. The analyst has grounded his bullish projection on Bitcoin’s daily Bollinger Bands (BB), highlighting that these indicators are expanding while BTC displays a similar price action observed in 2023. BTC Price Targets $120,000 ATH On December 12, Severino shared a chart demonstrating a technical analysis of Bitcoin using the Bollinger Bands and a historical correlation of late 2023 price behavior. The analyst predicted that if history repeats itself, the Bitcoin price could reach a $120,000 all-time high by next week. Related Reading: Shiba Inu Price Rebounds Toward $0.00003, Taking 69% Of All Holders Back Into The Green Severino disclosed that Bitcoin’s daily Bollinger Bands are expanding, while its current price action reflects a similar bullish trend observed in 2023. Looking at the analyst’s 2024 price chart, Bitcoin’s upper and lower Bollinger Bands are represented by a respective red and green trend line. Typically, an expanding Bollinger Band indicates increasing price volatility. Bitcoin could start a bullish trend if it breaks above the upper band or enter a bearish phase if it drops below the lower band. Bitcoin has also tested the lower Bollinger Band at $92,560 and is now steadily approaching the upper band at $102,323. Additionally, the analyst has placed Bitcoin’s Bollinger Band basis at $97,442. Severino observed that the Bitcoin price chart on the right shows a historical instance in late 2023 when BTC broke above the upper Bollinger band and followed with a substantial price rally as it walked the bands higher. This historical trend is currently being replicated in Bitcoin’s 2024 price setup, indicating a potential for a significant upward price movement if similar conditions seen in 2023 are met. If Bitcoin’s price closes above the upper Bollinger Band with a buy signal, it could spark a rally toward $120,000. Currently trading at $100,219, Bitcoin would need to increase by 20% to reach the analyst’s projected target by next week. Analyst Confirms Bitcoin Bollinger Band Bullish Signal Also commenting on Bitcoin’s recent price action, Trader Tardigrade, an analyst on X, revealed that BTC’s Bollinger Bands and Bollinger Band Width (BBW) are signaling the potential for a strong uptrend continuation. Sharing a price chart, the analyst noted that Bitcoin previously dipped to the middle of the band but quickly recovered, underscoring the supportive nature of the mid-band. Related Reading: Dogecoin Price On Its Way To $1: Why A Retest Of $0.48 Is More Important Than Anything Trader Tardigrade has revealed that Bitcoin’s BBW has hit a lower contraction, while its recent price movements resemble those of early November, just before its price skyrocketed from $70,000 to $100,000. If Bitcoin’s price maintains its current bullish trend, the analyst predicts a surge that could drive the cryptocurrency to a new all-time high at $136,000. This substantial price increase would represent a massive 36% rally from Bitcoin’s current price. Featured image created with Dall.E, chart from Tradingview.com
A crypto analyst has shared an XRP price chart, hinting at a potential breakout above $10 if the prominent altcoin can replicate a past fractal. The analyst urges the XRP community to monitor this fractal closely, highlighting the need to monitor price movements in the coming weeks. XRP Price Eyes $16 As Analyst Spots Bullish Fractal An XRP supporter on X (formerly Twitter), known as ‘LUDXRP,’ has released a detailed chart analysis, predicting that the XRP price could climb to an ambitious price target of $16.15. The analyst mentioned the presence of a historic fractal on the XRP chart. Related Reading: Dogecoin Price On Its Way To $1: Why A Retest Of $0.48 Is More Important Than Anything The fractal pattern, indicated by the blue circle in the chart, highlights a significant upward movement in the XRP price. Following the movements of the chart, if XRP can replicate this fractal, it could trigger a significant price rally toward $16.15. Multiple green horizontal lines have also been shown in the chart, spotlighting different resistance and support zones that could trigger a reaction in the XRP price. With XRP trading at $2.42, the horizontal trend lines above its current price are seen as crucial resistance levels. The analyst highlighted intermediate price levels like $2.8, $4.1, $7.6, and $12.7 as crucial resistance levels, which XRP must surpass before reaching the ambitious target of $16.15. Additionally, the chart identifies $2 as a potential support level, warning that if the price drops below this mark, it could lead to a possible price dip to $1. With the possibility of breaking above $16, the XRP supporter has urged community members to monitor the fractal on the price chart closely. He emphasized the importance of XRP maintaining an upward trend within the blue circle, which could trigger his projected price increase toward $16. XRP To See “Face Melting” Rally This Christmas A crypto analyst identified as the ‘Charting Guy’ on X has expressed optimism about XRP’s future price outlook. According to the analyst, XRP could experience a ” face-melting “ rally to new highs by Christmas and in late January. Related Reading: Shiba Inu Price Rebounds Toward $0.00003, Taking 69% Of All Holders Back Into The Green The analyst has stated that if XRP continues to follow past bullish trends seen in 2017, the market will likely consolidate for another two weeks until Christmas. He disclosed that this bullish projection was primarily based on XRP’s fractal rather than relying on Fibonacci levels. In response to a comment from a crypto community member, the Charting guy agreed that by December 30, XRP would experience a series of strong green weeks, potentially driven either by the Christmas hype or the bullish sentiment surrounding the RLUSD stablecoin. The analyst also agreed that January 20, the inauguration day of Donald Trump as the United States (US) President, could mark the XRP price top, which the market would likely consider a “sell the news event.” Featured image created with Dall.E, chart from Tradingview.com
Crypto analyst Master Kenobi has provided extensive analysis, which discusses the Bitcoin price dominance and altcoin season. In his analysis, Master Kenobi also revealed what this sudden volatility means for the market. Where The Bitcoin Price Dominance Is Headed In an X post, Master Kenobi stated that the Bitcoin price dominance was meant to have begun its decline yesterday. However, the drop started 20 days earlier than anticipated. The crypto analyst added that. Having recorded three consecutive red weeks, Bitcoin’s dominance has entered a phase of volatility that could last for some time. Related Reading: XRP Price Flashes Falling Wedge Pattern, Why $2.8 Is A Possible Target From Here The analyst’s accompanying chart showed that the Bitcoin price dominance experienced this volatility phase for 136 days. If history were to repeat itself, this volatility won’t end until April 6 next year. Master Kenobi opined that the market is currently in the first and likely the most critical stage of capital rotation from Bitcoin profits. Once the market moves past this period of capital rotation, Master Kenobi predicts that a massive drop in dominance will follow, which, on the other hand, can be interpreted as the start of the altcoin season. Master Kenobi stated that even if the bull market extends beyond April 6, this period will likely be the most prolific for most altcoins. Master Kenobi noted that the bottom in the Bitcoin price dominance on May 14, 2021, coincided with the first peak of the crypto market during the 2021 bull run. The analyst expects a similar pattern to unfold this time around. Meanwhile, the analyst indicated that the bottom in the dominance could happen at the beginning of March instead of April 6. From The Bitcoin Halving Perspective Master Kenobi also used the Bitcoin halving date as a reference point to prove that the Bitcoin price dominance could move along with these timelines. He noted that in the previous cycle, there was a short interval (four days) between the one-year anniversary of the Bitcoin halving on May 11 and the first major bottom in dominance on May 15. Related Reading: Dogecoin Price On Its Way To $1: Why A Retest Of $0.48 Is More Important Than Anything In line with this, the analyst remarked that the timeline for the bottom in the Bitcoin price dominance (which would also mark the peak for the crypto market) can extend beyond April 20 to April 23, 2025. Master Kenobi cautioned that the exact date for the market peak cannot be pinpointed at this moment. However, as time passes, he believes that there is a likelihood that he will be able to pinpoint with greater accuracy the date when the first phase of the bull market will end. At the time of writing, the Bitcoin price is trading at $100,300, down in the last 24 hours, while its dominance is at 55.13%, according to data from CoinMarketCap. Featured image created with Dall.E, chart from Tradingview.com
The Shiba Inu price has rebounded towards $0.00003, which has put most of the SHIB holders back in the green. This is significant, considering how it could set Shiba Inu on a path to higher prices. Most SHIB Holders In The Green As Shiba Inu Price Rebounds IntoTheBlock data shows that most SHIB holders are in the green as the Shiba Inu price rebounds towards $0.00003. 69% of these SHIB holders are now in the money, while 24% are out of the money, and 6% are currently in the money. This could be bullish for the Shiba Inu price, considering that holders are less likely to sell when they are in the money. Related Reading: XRP Price Prediction: Last Phase Of ABC Wave Points To A Bounce To New ATH At $5.85 This could reduce the selling pressure on SHIB and sustain the Shiba Inu price recovery. The meme coin has recovered towards $0.00003. The ‘In the Money’ metric shows that the next significant resistance level that Shiba Inu needs to break above is $0.000033. 130,620 wallet addresses bought 15.06 trillion SHIB tokens around this level. However, on-chain metrics still paint a bearish picture for Shiba Inu, which is undoubtedly concerning. IntoTheBlock data shows that the ‘Concentration’ metric is in the red, indicating that SHIB whales currently have a bearish sentiment towards the meme coin and are opting against accumulating more coins. This large transaction metric is also bearish at the moment as Shiba Inu whales are opting against accumulating more coins. The net network growth also paints a bearish picture for the Shiba Inu price, as there is currently a low influx of new addresses buying the meme coin. The Shiba Inu burn rate has also remained inconsistent, further presenting a bearish outlook for the Shiba Inu price. Shibburn data shows that the burn rate is down over 79% in the last 24 hours, with three million coins burned during this period. From A Technical Analysis Perspective Crypto analyst Javon Marks has provided a bullish outlook for Shiba Inu from a technical analysis perspective. In an X post, he stated that Shiba Inu recently confirmed another bullish pattern, which could lead to a continuation of its upward trend. The analyst added that another major upside move could be in play for SHIB, with the meme coin possibly rallying to $0.00081 or even higher. Related Reading: Weekly Bull Flag Appears On XRP Price Chart, Why A Double-Digit Is Still Feasible The crypto analyst further mentioned that with this target at $0.000081, the Shiba Inu price could witness a 180% climb and that this rally may already be in play. A rally to $0.000081 could pave the way for Shiba Inu to surpass its current all-time high (ATH) of $0.000088. At the time of writing, the Shiba Inu price is trading at around $0.000029, up over 8% in the last 24 hours, according to data from CoinMarketCap. Featured image created with Dall.E, chart from Tradingview.com
Earlier in November, Dogecoin experienced a rapid ascent to new price highs, driving its Relative Strength Index (RSI) into the overbought zone. However, a crypto analyst revealed that the popular meme coin has officially exited this overbought range following its recent pullback below $0.4. This new shift could signal the potential for another significant surge […]
The Dogecoin price journey toward the coveted $1 mark has been a topic of interest for crypto enthusiasts and traders alike. Reaching $1 would solidify Dogecoin into a new psychological threshold and into new all-time high prices. However, there have been differing perspectives as to how and when this would happen. A technical analysis on the TradingView platform suggests that the Dogecoin price may encounter resistance at $0.48, experience a decline, and then resume its upward trajectory towards $1 and beyond. Dogecoin Price Could Reject At $0.48 Dogecoin is currently trading below the $0.48 mark, but technical analysis has pointed to a notable resistance situated around this price level. According to the Dogecoin price analysis of the 4-hour candlestick timeframe, the $0.48 price level is one to watch. Related Reading: XRP Price Prediction: Last Phase Of ABC Wave Points To A Bounce To New ATH At $5.85 This is because the Dogecoin price has yet to exhibit a notable break above this price level throughout the current bull market cycle. Particularly, the rally has been highlighted by two rejections just below the $0.48 price level, with the highest Dogecoin price so far being $0.475 on November 23 and December 8. The analyst points out that the Dogecoin price recently experienced a solid bounce from the 200EMA on a 4-hour timeframe. This bounce signifies that the bulls are still in control, as the price continues to show resilience against downward pressure. The confluence of support at the 200EMA with bullish momentum provides a foundation for Dogecoin’s upward movement, setting the stage for the anticipated test of the $0.48 level. Interestingly, Dogecoin’s inability to break above $0.48 yet has seen the price level being regarded as the zone of liquidity. The TradingView analyst emphasizes that this level remains a focal point, predicting that Dogecoin is likely to face another rejection at $0.48. Such a rejection could lead to a pullback deeper than any seen so far during this bull cycle and offer an opportunity for consolidation before attempting a stronger breakout. What Happens After The Retest? According to the analyst, a rejection at the $0.48 price level would see the Dogecoin price falling significantly and erasing most of the gains it piled up in November. Particularly, the analyst envisions a fall to fill the CME on lower zones up to the $0.20 price zone. Such a move is expected to have a devastating effect on the sentiment of bullish investors, specifically those anticipating a quick new Dogecoin price all-time high. Related Reading: Solana Price At $4,000? Cup And Handle Pattern Shows Why This Is Possible Despite this anticipated pullback, the analyst maintains a longer-term bullish outlook. Once Dogecoin reaches the $0.20 zone and completes the consolidation phase, a strong rebound is expected to follow. This rebound is projected to drive the price decisively past the $0.48 resistance and set the stage for Dogecoin’s journey toward the much-anticipated $1 milestone. With this in mind, the analyst highlighted the $0.24 to $0.20 range as the ideal buying zone to best capitalize on this move. At the time of writing, the Dogecoin price is trading at $0.42 and is up by 7% in the past 24 hours. Featured image created with Dall.E, chart from Tradingview.com
The XRP price continues to exhibit a notable display of strength despite its corrective phase since it reached above $2.8 on December 3 for the first time in almost seven years. Interestingly, technical analysis shows the corrective phase has been highlighted by an ABC corrective pattern on the daily candlestick chart. Consequently, the XRP price […]