The Dogecoin price may be poised for a significant rebound, as a familiar long-term pattern has emerged on its chart. According to technical analysis, the structure looks almost identical to a setup that triggered a major breakout in its previous cycle, from 2023 to 2024. With Dogecoin currently at a crucial support level that once marked the start of its last sustained rally, a crypto analyst has projected that the meme coin could enter a new bullish phase, potentially driving it above $1. Past Pattern Foreshadows Dogecoin Price Surge To $1 Crypto analyst Trader Tardigrade has predicted that the Dogecoin price could soon surge to $1.10 from its current $0.15 in this cycle. In a recent X post, he highlighted that Dogecoin’s weekly chart has settled on its support trendline for the third time in the current 2021-2026 cycle. Related Reading: Dogecoin Cup And Handle Pattern Is Returning, What Happens To Price If It’s Completed? The chart shows DOGE’s price reaching this key level after a prolonged pullback, creating a structure similar to the one that formed in late 2023. At the time, this pattern marked the beginning of a slow but consistent uptrend that lasted throughout 2024, ultimately creating the meme coin’s mid-cycle range peak. The historical comparison between the 2023 – 2024 cycle and the current cycle is clear on the analyst’s chart. In the previous cycle, Dogecoin completed three closes at the support zone before sharply reversing upward. The latest weekly pattern mirrors the exact alignment, with price tightening around a rising trendline while forming higher lows. Trader Tardigrade also noted that the previous cycle’s slow bull run began from the same setup. Notably, the chart highlights a large boxed region representing the projected 2024 to 2025 phase, where a widening price structure suggests that Dogecoin could still have room for an upward move. If historical patterns repeat as expected, the meme coin could initiate another powerful leg up above $1 by 2026. Dogecoin’s Bullish Thesis Strengthens After Channel Break Trader Tardigrade has also highlighted an important improvement on Dogecoin’s lower-timeframe chart, indicating a shift from a downtrend. The two-hour chart setup reveals a breakout from a Descending Channel that had previously controlled price movements during the meme coin’s recent decline. The breakout is visible as the white price line pushes above the Descending Channel’s upper boundary, signaling a potential shift in short-term momentum. Related Reading: Dogecoin Price Could Bounce Very Quickly If This Happens At $0.166 According to Trader Tardigrade, technical indicators such as the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) support this shift. While the RSI has broken above its resistance zone, the MACD histogram shows a buildup in positive momentum, with bars expanding upward. The analyst has explained that Dogecoin often begins its largest bull rallies with early signals on the LTF before spreading to the higher time frames. With momentum rising, Trader Tardigrade believes the DOGE price may already be initiating an uptrend. Featured image from Getty Images, chart from Tradingview.com
In line with the broader crypto market, Aptos (APT) experienced a remarkable price upswing in the past week culminating in a market gain of 12.53%. However, the prominent altcoin remains in a corrective phase with a price loss of 8.75% on its monthly chart. Aptos has famously underperformed in the crypto bullish resurgence that kicked off in April reaching a local peak of $6.14 while the present market cycle top lies around $17.90. However, popular market analyst with X username PlanD has tipped the altcoin to maintain its most recent uptrend as indicated by a bullish chart pattern. Related Reading: XRP Down 3% After SEC Settlement Stalls, But Social Media Turns Bullish Aptos Ready For Major Bullish Price Reversal – Analyst In a recent X post on June 27, PlanD provides an insightful technical analysis on the APT market hinting at a major price surge ahead . Firstly, the renowned analyst explains APT has shown consistent price movement within a descending channel over the past two and half years. However, APT price action in the past three months have twice retested the lower boundary of this channel, thereby forming a double bottom pattern – a bullish reversal pattern formed when price forms two similar lows separated by a rebound as seen between April till date on the chart below. The peak of the intervening price rebound serves as the pattern’s neckline, and a breakout above this level confirms the market’s intent for a bullish reversal. Therefore, if APT bulls can secure a decisive daily close above $6.00, it would likely trigger a broader market rebound, with price targets set around $9.92, representing an estimated 100% gain on present market prices. Beyond $9.92, a sustained buying pressure could force APT to return to its cycle top at $17.90 which currently aligns with the upper boundary of the descending price channel. According to PlanD’s analysis, a successful breakout above this long-standing channel exposes investors to lofty price targets as high as $55 and $79. On the cautionary note, APT bulls must avoid a price rejection at the $6.00 region, which represents the market’s next major resistance. The occurrence of such a scenario would suggest a delay of the purported or invalidation in the case of price fall below the present support line at the lower boundary of the descending channel. Related Reading: Analyst Spots Bitcoin Time Bomb Hidden In Bullish Weekly Chart Aptos Price Overview At the time of writing, APT trades at $4.88 reflecting a 2.41% decline in the past day. Meanwhile, the altcoin’s daily trading volume is soaring by 67.08% and valued at $430.09 million. With a market cap of $3.41 billion , Aptos ranks as the 31st largest cryptocurrency in the market. Featured image from Getty Images, chart from Tradingview
The XRP price is turning bullish once again, with new technical analysis indicating that the altcoin could be on track for a fresh All-Time High (ATH). As the price moves toward breaking key resistance levels, analysts are calling for a potential surge above $4. Alongside this outlook, they have provided detailed trading guidance and identified the ideal timeframe for investors to consider taking profits. Master Ananda, a prominent TradingView analyst, has reported that XRP is currently showing strong technical signs of a bullish breakout that could lead to new all-time highs above $4.5. Despite experiencing a months-long downtrend, the cryptocurrency appears to be entering a powerful new growth phase that could bring its price significantly higher than previous ATH levels around $3.84. XRP Price Eyes Huge ATH Breakout Above $4.5 Notably, the TradingView analyst points to the bottom of a recent correction forming on April 7, with a peak established on May 12. This was followed by a 24-day retracement phase that ended on June 5, when XRP formed a higher low. Based on these price movements, Master Ananda notes that it’s been approximately 27 days since XRP last saw bullish price action, marking almost an entire month of consolidation. Related Reading: XRP Wave Structure Predicts Wild Fluctuations On Its Way To $4 ATH Nevertheless, the analyst highlights that the recent confirmation candle on June 8 supports the expectation that XRP is resuming its upward trajectory. The analyst’s chart illustrates a clear breakout from a descending trendline, followed by a shift into an ascending channel. This formation, paired with substantial volume activity and a bullish price structure, signals a possibly strong rally for XRP. Fibonacci levels drawn on the chart suggest that XRP could reach a near-term target of $4.5 (1.618 Fob) after surpassing upper resistance levels at $2.71 and $3.019. The chart also shows a potential for XRP to exceed this initial $4.5 level to reach $6.29 (2.618 Fib). Notably, Master Ananda predicts that XRP could reach a peak before most assets this cycle, as its bullish momentum had an early start with a historic run from $0.5 to slightly above $3 this year. The analyst also forecasts that once XRP reaches the top, a significant correction could follow, potentially marking the end of the current bullish setup. Analyst Unveils Trading Strategy And Take Profit Zone Beyond short-term price action, Master Ananda outlines a broader trading strategy focused on holding through the current growth wave. Rather than taking incremental profits around the $2.71 and $3.02 price highs, the analyst recommends that traders maintain a full position until XRP hits the $4.5 target and take-profit zone. Related Reading: Wave Structure Puts XRP Price In The $18.22-$23.20 Range In The Short Term This approach is designed to capture the maximum upside potential of this bullish cycle without diluting gains through early exits. Once XRP reaches this level, the analyst suggests taking profit partially—-not to exit entirely but to prepare capital for a potential redeployment during the next market retracement. Master Ananda also positions XRP as a lead indicator in what could be an extended altcoin bull market. A breakout above $4.5 will likely trigger explosive growth in lower-cap cryptocurrencies. While XRP is expected to generate up to 50% gains, these assets, according to the TradingView analyst, have the potential to yield returns of 150% in a single day. Featured image from Getty Images, chart from Tradingview.com
XRP is navigating a challenging technical landscape as it continues to trade within a well-defined descending channel on the daily chart. This bearish structure has kept price action under pressure, with each attempt at recovery meeting resistance along the upper trendline. The pattern reflects a broader struggle between bulls attempting to defend key support zones and bears maintaining a firm grip on short-term momentum. As XRP’s price coils tighter within the confines of the channel, this suggests that a decisive move could be on the horizon. Whether the bulls can muster enough strength to flip the trend or the bears extend their dominance remains a crucial question that may define XRP’s next major move. Bears Keep Price Below Key Resistance Line Currently, XRP is showing signs of a potential bearish move after encountering strong resistance near the upper boundary of its descending channel on the daily chart. This upper trendline has acted as a formidable barrier, halting recent bullish attempts and reinforcing the overall downtrend structure. Related Reading: XRP Poised For Final Flush Before Breakout, Predicts Crypto Analyst The rejection at this level suggests that sellers are still dominating the market. If bearish momentum builds, the altcoin could revisit lower support levels within the channel, potentially retesting the lower boundary of the descending channel. Also, the Moving Average Convergence Divergence (MACD) indicator is approaching a potential bullish crossover. This pending cross between the MACD line and the signal line has caught the attention of traders, especially as it forms near a key technical zone. A confirmed crossover might indicate a possible trend reversal, hinting at growing bullish strength after a period of downside pressure. However, given recent market volatility and past failed breakouts, skepticism remains. Previous attempts in similar setups have led to fakeouts, temporary moves that fizzled out quickly. As a result, confirmed price action and volume are advised before positioning too aggressively. If accompanied by a breakout from nearby resistance, this cross could mark the beginning of a stronger upward move. Otherwise, it risks becoming just another false alarm in a choppy market. Support Zone In Focus As XRP Tests Lower Boundary XRP finds itself at a critical juncture as it moves toward the lower boundary of its descending channel. This area has served as a reliable support level in recent weeks, preventing deeper losses and providing a foundation for minor rebounds. As price action moves toward this zone, traders are watching closely to see whether buyers can defend it once again or if the bears will force a decisive breakdown. Related Reading: XRP Price Is Eyeing Another Breakout To $4: Analyst Says Watch This Level A sustained hold above this support zone may pave the way for a short-term bounce, targeting mid-channel resistance levels. However, a clean break below this lower boundary may ignite downside pressure, exposing XRP to fresh multi-week lows such as $0.9353. With sentiment currently fragile, this support test might be pivotal in shaping XRP’s next trend. Featured image from YouTube, chart from Tradingview.com
PEPE’s price action has been relatively quiet in the past few weeks. The meme coin has been quietly going through a continued wave of selloffs amidst the volatility in the wider crypto market. However, an interesting technical analysis shows that the chart structure of PEPEUSDT is pointing to a massive move to the upside, one that could send the token soaring by as much as 796% before the end of 2025. As the broader crypto market continues to move sideways, crypto analyst MasterAnanda identified a short-term higher low forming around support levels, which could act as the launchpad for a major PEPE price breakout. Short-Term Higher Low Points To Strong Accumulation Zone The bullish outlook on PEPE is based on the repeat of a similar price formation that played out in 2024 before its run to new price highs and eventually its current all-time high of $0.00002803. According to the price chart shared by the analyst on the TradingView platform, PEPE initially traded in a descending channel between May to September 2024 before eventually breaking out of the channel. After breaking out of the channel, PEPE went on a brief uptrend and another downside which led to the creation of a lower low, before eventually going on an extended rally that peaked in December 2024. Related Reading: PEPE Price Breaks Ascending Triangle To Target Another 20% Crash Notably, it seems the same structure is showing up again on the PEPE price chart, specifically on the daily candlestick timeframe. In the analysis, MasterAnanda marks April as the period where PEPE bottomed out within a descending channel. Since then, two distinct highs and two clear lows have shaped what appears to be a reversal structure. Most notably, a new higher low is beginning to form a pattern that, according to previous price action, could precede a bullish wave. The analyst labels this as a important stage, especially for spot traders who are positioning for long-term growth. Although there could be weakness in the short term, which could result in one last shakeout or another downside wick, the analyst noted that this shouldn’t worry spot investors. It may offer a final opportunity to accumulate before momentum builds toward a new cycle high. On the other hand, leveraged traders are advised to proceed with caution and risk management, given the potential volatility during the build-up to the breakout. Fibonacci Levels Show 480% To 796% Rally Target The chart highlights a significant confluence around Fibonacci extension levels, with the 1.618 Fib level suggesting a possible 480% move and the more ambitious 2.618 extension pointing to a 796% upside. Interestingly, MasterAnanda noted that the numbers are huge. Related Reading: Analyst Says PEPE Price Must Break This Resistance Level For 150% Surge Toward ATHs Although these targets are just projections, they align with the previous rally seen in late 2024. If this prediction structure holds, the next rally could push PEPE beyond the 1.618 Fib level at $0.0004264, surpassing all prior highs and printing a new all-time high in 2025. At the time of writing, PEPE is trading at $0.00000708, down by 4.7% in the past 24 hours. Featured image from Shutterstock, chart from Tradingview.com
Toncoin (TON) is starting to make waves again, showing signs of renewed strength after successfully breaking out of a long-standing descending channel on the daily chart. This breakout marks a pivotal moment for the token, potentially signaling the end of the recent downtrend and hinting at the early stages of a fresh uptrend. As the crypto market shows signs of renewed vigor, Toncoin appears to be positioning itself as one of the standout performers of this emerging cycle. Whether this breakout marks the beginning of a sustained uptrend or faces temporary headwinds will depend on both technical follow-through and broader market sentiment. A Potential Uptrend In The Making According to Profit Demon in a recent post on X, Toncoin is demonstrating significant strength by staying above the descending channel on its daily chart. This technical formation is crucial as it signals a shift in market dynamics after a period of weakness and decline. Related Reading: Toncoin Takes A Hit With 12% Correction After Failing To Break $4.34, More Pain? Profit Demon noted that TON had previously faced a sharp correction. However, the latest price action indicates a recovery, with Toncoin finding solid support at a key level. This level now serves as a critical foundation, offering the potential for a new upward move. He further emphasized that if the bullish momentum continues to grow, TON could target several key resistance levels. With the current market sentiment favoring a recovery, Toncoin’s price may rise toward the $4.10 level. A successful breakout above this mark would solidify the bullish trend, propelling it to the $4.90 and $5.60 marks. Can Toncoin Sustain Current Trends and Trigger A Rally? For TON to sustain its rally, the Relative Strength Index (RSI) plays a key role. The RSI should stay within the optimal range of 40 to 70, avoiding overbought conditions above 70. If the RSI remains above 50 and outside overbought territory, Toncoin will have room for further appreciation. A breakout above key resistance levels while keeping the RSI in this range would strengthen the bullish case. Related Reading: Is Toncoin Set for a Comeback? Key Market Signals Point to a Possible Rebound The Moving Average Convergence Divergence (MACD) is another critical indicator to monitor. Currently, the MACD has shown signs of bullish divergence, suggesting that momentum is shifting in favor of the bulls. For the rally to continue, the MACD line should remain above the signal line, confirming that buying pressure outweighs selling pressure. Lastly, volume analysis is essential in confirming the strength of the price movement. A rally supported by increasing volume signals that the trend is backed by real demand and a temporary spike. To sustain an upward movement, trading volume must rise as TON breaks through resistance levels. Higher volume indicates genuine interest from traders, which strengthens the trend, while lower volume may suggest a lack of conviction, limiting the rally’s longevity. Featured image from Medium, chart from Tradingview.com
The Ethereum price has finally broken out of a months-long consolidation pattern, signaling the possible start of a significant bullish move. The recent breakout of an Ascending Triangle formation suggests that ETH is set for more gains, with a crypto analyst suggesting a price target of $7,800 in the coming months. Ethereum Price Targets $7,700 ATH The Ethereum price is believed to be targeting a new all-time high of $7,800 after its recent breakout from an Ascending Triangle. For months now, the cryptocurrency has been trading within this classic bullish chart pattern, where prices make higher lows while facing strong resistance at a fixed level. Related Reading: “Ethereum Is Not Dead”: Broadening Wedge Suggests Another Leg-Up Is Coming This consolidation pattern has been active since late 2024, establishing strong resistance at $4,000. TradingView analyst Sohaibfx has predicted that if Ethereum can surpass this resistance level, it would confirm a bullish trend, leading to a strong upward continuation in its price. Looking at the analyst’s price chart, Ethereum spent several months navigating between $2,000 and $4,000 in Q1 2025. This region represented an accumulation phase where buyers had quietly built their positions in anticipation of a potential rally. A descending channel marked in orange in the price chart also shows that Ethereum had experienced a significant pullback mid-to-late 2024 before breaking out. This was likely the final shakeout before it regained its bullish momentum. According to Sohaibfx, a measured move of the Ascending Triangle suggests that Ethereum is poised for an explosive 333% surge to $7,800. This bullish target is calculated by determining the height of the triangle, which is the difference between its base at $2,000 and resistance level at $4,000. When the price breaks above the resistance, the common method for estimating the possible next move is to add the triangle’s height to the breakout point, which gives a technical target of $6,000. However, based on past price behaviour and strong buying momentum, the Ethereum price could push even higher, with $7,800 being a key psychological level. Support Levels And Momentum Indicators To Watch In his price analysis, Sohaibfx has pinpointed the $4,000 and $3,000 price levels as support levels for Ethereum. This support should act as a safety net, where buyers are likely to step in to prevent further decline after Ethereum reaches its projected $7,800 target. Related Reading: Ethereum Price Maintains Movement Inside Ascending Triangle, Is Another Crash Coming? Moving forward, the analyst highlights key momentum indicators that should be monitored. While the analyst’s chart does not specify indicators like Moving Average Convergence Divergence (MACD) or Relative Strength Index (RSI), Ethereum’s sharp upward move suggests that strong momentum will be a major contributor to its rise to a new ATH. Sohaibfx has advised traders to watch out for RSI levels above 70, as overbought conditions could signal a potential pullback while Ethereum approaches higher levels. Featured image from Adobe Stock, chart from Tradingview.com
A crypto analyst has predicted that the Ethereum price could be gearing up for an additional 13% crash to new lows. Currently, the cryptocurrency is hovering near the crucial $2,200 resistance, where a rejection could fuel further volatility and trigger a significant decline. Ethereum Price Set For $1,700 Crash In a recent technical analysis published by MadWhale, a TradingView crypto expert, the Ethereum price is projected to experience a severe price breakdown, declining by 13% to reach $1,700. The analyst attributes this bearish outlook to the cryptocurrency’s recent price action and chart patterns. Related Reading: Ethereum Retests Symmetrical Triangle Pattern, Analyst Sets Next Target MadWhale shared an Ethereum price chart showing that the cryptocurrency is moving within a Descending Channel. This channel is generally a bearish chart pattern formed when two downward-sloping trend lines connect at lower highs and lower lows. It usually indicates a major downtrend, in which sellers dominate the market rather than buyers. Presently, the Ethereum price is fast approaching a main resistance area at $2,200, situated around the upper boundary of the Descending Channel pattern and marked by the red shaded area on the chart. Historically, when its price reaches this area, it often encounters significant selling pressure that leads to a sharp downward price reversal. MadWhale’s analysis suggests that the cryptocurrency may fail to break this critical resistance area, triggering his predicted decline to $1,700. This target aligns with a strong support area where the cryptocurrency has previously found buying interest. Notably, Ethereum’s volume analysis also indicates fluctuating market participation, with no strong signs of bullish drivers or strong momentum. If volume remains low and selling pressure increases, Ethereum is likely to experience further price declines. Analyst Predicts Three Key Targets For Ethereum Despite the ongoing selling pressure and decline in the Ethereum price, crypto analyst Patron on X (formerly Twitter) remains optimistic about the cryptocurrency’s future outlook. The market expert has predicted three bullish targets for the Ethereum price, believing that it is only a matter of time before its present downtrend dissipates. Related Reading: Ethereum Price Crash To $2,000 Could Happen As Smaller Timeframes Turn Bearish The analyst noted that Ethereum had reached a key support level, where a bounce from this threshold could trigger a surge to his projected targets marked by yellow lines on his price chart. With the Ethereum price trading at $1,989 as of writing, the analyst forecasts that it could reach a first target of $2,296, representing a 15.44% increase. After this surge, Patron predicted that Ethereum would reclaim previous highs and rally to $2,913, marking a 46.46% gain. For his final target, he projects a surge to $4,000, reflecting a 101% jump to a new ATH. Notably, the analyst claims that if Ethereum can reach these bullish targets, it could yield a significant 100% profit for investors. Featured image from Unsplash, chart from Tradingview.com
The Solana price is seemingly on the verge of another major crash, as an analyst forecasts a correction to $90. Given the cryptocurrency’s recent slow momentum due to the ongoing market letdown, an additional 26% decline to new lows could significantly impact the future outlook of Solana. Analyst Forecast Massive SOL Price Crash CoinMarketCap’s data shows that the Solana price has given up most of its yearly gains following its massive 50% price crash earlier last month. Despite this bearish performance, TradingView crypto analyst MadWhale highlights that the pain isn’t over yet, projecting an even deeper price decline for the popular altcoin. Related Reading: Solana Price On The Verge Of 2022-Like Crash To Send It Back To $22? The analyst believes that a 26% drop to $90 may be on the horizon if Solana fails to find proper support. Sharing a detailed price that supports his bearish prediction, MadWhale suggested that the Solana price is currently in a Descending Channel, indicating a sustained downtrend. The chart shows that the altcoin’s price movement is making lower highs and lower lows, confirming its already bearish structure. Moreover, Solana is presently struggling to break above the key resistance area indicated by a straight red line above the $130 threshold. The curved red arrow in the chart highlights the trajectory to which Solana is expected to move if it fails to surpass resistance levels. The $90 level is also marked as the main monthly support for the altcoin, where a potential bounce back or accumulation is set to arise. If Solana can retest this support level, MadWhale believes it could recover enough to sustain a lengthy upward trend. While Solana’s overall price position and market trend are in the red, the TradingView analyst acknowledges that temporary bullish movements could happen. However, these minor fluctuations would be short-lived, as they are part of the broader downtrend. Notably, MadWhale has marked the $100 mark as a psychological resistance level for the Solana price, where a decline toward this threshold could influence its market sentiment. Solana Market Sentiment Switches To Fear Solana’s market sentiment recently hit 1-year lows, but on-chain data shows an even more volatile trend. The altcoin’s Fear and Greed index at 34 indicates that it may be approaching extreme fear zones. This suggests a potential period of panic-driven sell-offs by investors. Related Reading: Solana Forms Ascending Triangle For Possible Breakout, Analyst Sets $565 Target CoinCodex’s data also highlights that Solana’s overall market trend is significantly bearish. Over the last 30 days, Solana has recorded more red days than green, signaling a prolonged downtrend. As a result of its bearish price action, CoinCodex indicates that now may be a bad time to buy the altcoin. Commenting on Solana’s current market sentiment, crypto analyst Market Prophit notes that the crowd remains bearish on the cryptocurrency. However, smart money stays bullish, fueling hopes of a possible price reversal in the altcoin. Featured image from Adobe Stock, chart from Tradingview.com
According to an X post by crypto analyst Ali Martinez, Bitcoin (BTC) is witnessing a decline in sell-side pressure, indicating that a local market bottom may soon form for the premier cryptocurrency. Bitcoin Local Bottom On The Horizon? Bitcoin continues to trade just below the psychologically significant $100,000 level, hovering at $98,650 at the time of writing. However, the top cryptocurrency by market capitalization is witnessing a notable drop in sell-side pressure. Related Reading: Bitcoin 4-Year CAGR Drops To 14.45% But Still Outshines Gold, Stocks – Details Martinez shared the following Bitcoin Sell-Side Risk Ratio chart from crypto analytics platform Glassnode, highlighting a sharp decline in the metric since mid-January 2025. This drop suggests that BTC may be forming a local price bottom, potentially leading to a new accumulation phase. For those unfamiliar, a declining sell-side risk ratio typically indicates that investors are holding onto their BTC rather than selling, signalling the early stages of an accumulation phase where prices may stabilize or begin to rise. Martinez’s analysis aligns with broader crypto market cycle theories, which suggest that market bottoms are often followed by an accumulation phase. This phase, in turn, paves the way for a potential price increase. However, BTC must hold above key support levels to confirm this outlook. Crypto analyst Rekt Capital weighed in on Bitcoin’s price action, emphasizing the importance of a weekly close above $97,000 to maintain its higher low as support. The analyst shared a Bitcoin weekly chart, noting that while BTC has seen multiple wicks below its symmetrical triangle structure, the overall bullish pattern remains intact. However, failure to close above $97,000 on the weekly timeframe could increase the risk of further downside. Similarly, fellow analyst Daan Crypto Trades shared a bullish perspective, pointing out that BTC recently had a “solid break” from a descending channel structure. The analyst added: Just need to see the continuation now into the weekend to get a good base going into next week. $98K is key in the short term. Is BTC Primed For A New All-Time High? While Martinez suggests that BTC may be forming a local bottom, other analysts believe the cryptocurrency is gearing up for a move beyond $108,000, potentially reaching a new all-time high (ATH). Analyst Kevin, for instance, predicts that a short squeeze could propel BTC to $111,000. Related Reading: Bitcoin At Risk? Analyst Says Breaking This Price Level Could Spark Significant Volatility Similarly, recent analysis by Rekt Capital highlights that BTC is showing early signs of a bullish divergence which could break the digital asset’s bearish price momentum. At press time, BTC trades at $98,650, up 0.1% in the past 24 hours. Featured image from Unsplash, Charts from X and TradingView.com
The crypto market has been experiencing significant volatility, with the Bitcoin price leading the charge. Over the past month, BTC has been trading sideways, recording declines that have pushed its value below the $100,000 mark. As analysts speculate about the cryptocurrency’s next major move, recent data suggests that a classic Flag Pole pattern is beginning to emerge on the Bitcoin price chart. The crypto analyst who has identified this pattern has shared a bullish roadmap prediction for Bitcoin, projecting that it could rise to a new all-time high above $120,000. In a TradingView analysis, crypto expert Weslad expressed optimism about Bitcoin’s future trajectory, projecting that it could soar as high as $120,843 in this bull cycle. The analyst highlighted the current formation of a classic Flag Pole pattern on the BTC price chart. The emergence of this distinct technical pattern in the Bitcoin structure has sparked an enthusiastic response from analysts, as they anticipate a massive breakout to the upside. Roadmap To $120,000 Bitcoin Price Target According to the TradingView analyst’s chart, the Bitcoin price faced a rejection at an external supply area after experiencing an impressive 27% rally from a strong external demand zone between $$85,300 and $86,800. This rejection was a critical moment for the cryptocurrency, as it sparked the creation of what many experts call a perfect Bull Flag formation. Related Reading: Bitcoin $166,000 Target Still In Play? The Extension That Determines Where Price Goes Next This bull flag pattern is typically known as a bullish continuation signal during an uptrend. It represents a halt in a cryptocurrency’s upward movement before the trend resumes. In the case of Bitcoin, Weslad suggests that its recent rejection is not viewed as a downturn but rather as a smart money accumulation zone designed to shake out weaker hands who panic during market declines. Despite its pullback, Bitcoin’s recent price action has demonstrated a strong resilience in an immediate demand zone between $91,000 and $95,000. The analyst also describes this correction as a “fake down,” noting that it was due to liquidity engineering. This strategic liquidity grab allows large players to accumulate BTC at favourable prices before the next significant move upward. While noting the Flag Pole formation, Weslad also highlights a recent breakout from a Descending Channel that has previously restricted Bitcoin’s price movements. This channel breakout signals the possible resurgence of Bitcoin’s bullishness, with the analyst predicting an initial surge to $108,089. If Bitcoin can maintain a positive momentum, the pathway to an ultimate Flag Pole target of $120,843 becomes plausible. Monitoring Breakout Signals While Weslad projects a new all-time high for Bitcoin at $120,843, the analyst also emphasizes important signals that could indicate an imminent breakout. He revealed that if Bitcoin can successfully flip the aforementioned external supply zone between $108,000 and $109,000, the cryptocurrency could see its price skyrocket to new highs. Related Reading: Bitcoin Price In Trouble? Bearish Divergence That Led To Market Crash Last Cycle Returns At the time of writing, Bitcoin’s price is $96,142, marking a 2.25% decline over the past week. Featured image from Unsplash, chart from Tradingview.com
October has historically been one of Bitcoin‘s best-performing months, triggering notable price increases over the years. Considering the price of BTC this month, several crypto analysts believe that the digital asset could be gearing up for a breakout that might catalyze a move to new all-time highs. Is A Major Move For Bitcoin Around The […]