Schlagwort: crypto business

• Weekly close could confirm a breakout and a rally setup.
• Pattern mirrors October 2023’s 600 % surge.
• A breakout could shift sentiment across meme coins.

Dogecoin (DOGEUSD) is now trading at $0.2416, up 12.48 % in the past 24 hours, after breaking above a seven-month descending trendline that has capped its price since December.

This move positions DOGE for its strongest rally of the year.

If the weekly candle closes above this resistance on Sunday, analysts anticipate a potential move toward the $0.50–$0.60 range, representing a further 100–150 % gain from current levels.

The setup closely mirrors a breakout pattern seen in October 2023, which led to a 600 % rally and sparked widespread retail interest.

DOGE confirms breakout with price and volume surge

Dogecoin had been locked in a downtrend for over half a year, repeatedly rejected at the same diagonal resistance.

This week, that pattern broke.

With DOGE trading above the long-term trendline and price action supported by rising volume, technical signals suggest the early stages of a potential trend reversal for the meme-inspired cryptocurrency.

The price currently sits at $0.2416, having climbed over 12 % in a day.

This breakout candle is holding strength, and market activity has increased—key factors that could confirm the breakout if maintained through the end of the week.

Weekly closes carry more weight than short-term spikes when interpreting long-term structures, particularly those spanning several months.

Breakout opens path toward $0.50–$0.60 range

If the current move holds, Dogecoin’s next resistance zone lies in the $0.50–$0.60 range.

There is limited historical resistance until that level, making a sharp climb feasible.

Dogecoin has previously demonstrated that, once past key levels, price momentum can accelerate rapidly with minimal pullbacks.

This scenario played out in October last year when DOGE broke through a similar pattern and surged 600 % within weeks.

While history does not guarantee repetition, the resemblance in structure has drawn attention from chart analysts across the market, especially those tracking behavioural patterns in meme coins.

Memecoin sentiment may shift on confirmation

Dogecoin remains the largest meme coin by market cap and is often viewed as a bellwether for sentiment in the altcoin sector.

Breakouts in DOGE tend to precede rallies in smaller meme tokens.

If the weekly close confirms this breakout, it could trigger renewed interest and investment in the broader memecoin market, and altcoin trading volumes may rise in tandem.

The current rally aligns with early signs of recovery in the altcoin space, where tokens typically gain momentum in response to improving market sentiment.

Dogecoin’s performance this week may signal that the shift is already underway.

All eyes on Sunday’s weekly close

Although Dogecoin has broken the downtrend intraday, the crucial milestone is Sunday’s weekly close.

A sustained close above the trendline would validate the breakout and give traders confidence in pursuing higher targets.

If rejected before then, DOGE may re-enter the previous range, delaying the bullish thesis.

For now, however, the structure, volume, and price action all point toward a potential upside continuation in the near term.

The post Dogecoin breaks seven-month downtrend with 12.48 % price spike appeared first on CoinJournal.

• RSI has climbed to almost 85, flagging potential overbought conditions.
• Volume has risen sharply, driven by retail trader participation.
• Technical breakout from ascending triangle remains intact.

XRP has staged a powerful rally, climbing to $3.45 after months of subdued price action.

The Ripple-affiliated token, which had remained below $2.20 for a prolonged period, has now broken through key resistance levels with strong momentum.

The recent price action has captured market attention, as technical indicators, surging volume, and a bullish structure continue to support further upside—though overbought signals are beginning to emerge.

XRP rally led by price breakout above key resistance levels

The sharp move came after XRP broke out of a textbook ascending triangle pattern earlier this month, clearing major resistance points with little pushback.

The rally accelerated after the token crossed $3.20, continuing its upward trajectory to the current $3.45 level. This breakout confirms a significant shift in market structure.

Technically, XRP’s moving averages remain aligned in a bullish formation, with the 50, 100, and 200-day exponential moving averages stacked in favour of continued upside.

This alignment acts as a support base for the token and could cushion any short-term pullbacks, provided sentiment remains strong.

However, the pace of the recent rally raises the possibility of increased volatility.

RSI climbs to almost 85

While price action remains positive, the relative strength index (RSI) has reached almost 85, indicating overbought territory.

Traditionally, such levels suggest that an asset may be overheated, though this alone does not imply an immediate reversal.

Assets in bullish phases can remain overbought for extended periods, especially during momentum-driven runs.

XRP appears to be following that pattern, with price strength fuelled by increased interest and speculative activity.

Nevertheless, traders may remain cautious as indicators begin to flash early warnings of potential exhaustion.

Trading volume spikes as retail interest surges

XRP’s recent gains have been accompanied by a notable increase in trading volume, suggesting broad market participation.

The rally is not solely driven by large holders, as retail traders have stepped in with renewed enthusiasm.

This wider involvement adds weight to the price action and distinguishes it from earlier, less sustainable breakouts.

The current momentum appears supported by fear of missing out, but sustaining it will require continued inflows and market confidence.

XRP eyes $3.60 as next upside target

With the token now trading at $3.45, market participants are watching the $3.60 mark as the next key level.

This aligns with Fibonacci extension levels and round-number resistance.

If volume and sentiment remain strong, XRP could continue its upward push toward this zone.

The technical setup still appears constructive, with the breakout pattern intact and moving averages acting as support.

However, the rapid ascent means that XRP remains vulnerable to any sudden shifts in sentiment or broader market pullbacks.

A retracement could occur if traders begin booking profits at current levels.

The post XRP price hits $3.45 after breakout, technical signals show rally may extend appeared first on CoinJournal.

Key takeaways

• ADA is approaching $0.9 after rallying by over 10% in the last 24 hours.
• The coin could soon overtake Tron’s TRX to become the 9th-largest crypto by market cap.

ADA rallies higher as altcoins dominate

Bitcoin rallied to a new all-time high of $123k on Monday, but altcoins have taken over the show since then. Memecoins such as Dogecoin, Shiba Inu, Floki, Fartcoin, SPX, TRUMP, and Bonk led the way for most of the week, with most of them up double digits in percentages during that period.

The week is coming to an end with the leading altcoins making a strong statement. Ether, the second-largest cryptocurrency by market cap and the leading altcoin, added nearly 9% to its value in the last 24 hours to hit the $3,600 mark.

Cardano’s ADA is the best performer among the top 10 cryptocurrencies by market cap, adding nearly 14% to its value earlier today. The coin was approaching the $0.90 mark before retracing to now trade around $0.85 per coin. 

The positive performance comes after the landmark passing of the GENIUS ACT in the United States, indicating the beginning of regulatory clarity for cryptocurrencies in the country. ADA could rally to the $1 level soon as the bullish sentiment grows stronger in the market.

Furthermore, ADA Open Interest surpassed $1.4 billion on Thursday, reflecting the upbeat sentiment among derivative traders. ADA’s Open Interest is now approaching the $1.5 billion high set in January 2025. The technical outlook suggests a boost in bullish bias that could potentially drive ADA’s price to $1

ADA eyes $1 as bullish momentum grows stronger

The ADA/USD 4-hour chart is bullish and efficient, indicating that the buyers are firmly in control of the market. The coin has surpassed the 0% Fibonacci retracement level at $0.8233, drawn from the December 3 high of $1.3264 to the April 7 low of $0.5110. 

If the bullish momentum persists, ADA could rally towards the 61.8% Fibonacci level at $0.9214 in the coming hours or days. An extended rally would see ADA reclaim the $1 psychological level.

The RSI of 72 shows that ADA is in the bullish zone, while the MACD lines are also positive, suggesting a strong buying pressure. 

However, failure to build upon this momentum could see ADA retest the 50% FIB level at $0.8233. In the event of an extended bearish run, ADA could retest the weekend’s low of $0.6880.

The post Cardano looking to overtake Tron after rallying 10% today appeared first on CoinJournal.