Following Bitcoin’s Lead: The Rise of Altcoins Like DOGE, XRP, ETH, and SOL
Key alternative cryptocurrencies are mirroring Bitcoin’s recent price breakout as they gain momentum in the market.
What to know:
- Bitcoin made a substantial leap into six figures after crossing the Ichimoku cloud resistance on April 23.
- Other important cryptocurrencies like DOGE, XRP, ETH, and SOL are also indicating bullish trends, hinting at potential gains.
This analysis is performed by CoinDesk analyst and Chartered Market Technician Omkar Godbole, featuring insights into Bitcoin’s triumph over technical barriers that set the stage for its remarkable surge. As various altcoins breach similar resistance levels, analysts suggest they could also see significant upward movements.
Several altcoins are now breaking out of their own technical zones, with DOGE currently trading close to its bear market trend line and XRP eyeing its next resistance at approximately 30 cents. Meanwhile, ETH and SOL are gearing up for respective resistance levels around $2,700 and $218 following their breaches above the Ichimoku clouds.
Price Analysis
DOGE and XRP daily charts with Ichimoku clouds.
Image Credit: TradingView/CoinDesk
