An anonymous analyst and trader is taking a bullish stance on major memecoins, updating his outlook for two of the top 10 altcoins by market capitalization.
An analyst known by the pseudonym DonAlt tells the 62,700 subscribers of the TechnicalRoundup YouTube channel that Dogecoin (DOGE) could surge about 165% from current levels.
“Will Dogecoin go to $1? I still think so. huh.”
Dogecoin is trading at $0.378 at the time of this writing, up about 90% over the past seven days.
According to an anonymous analyst, Dogecoin has one major resistance level to overcome before reaching its target price.
“Dogecoin is still very strong… As long as the cryptocurrency market continues to overheat, I think it will remain so for at least a few more weeks, so I think it makes sense to aim higher. Here it is $0.58 and the meme resistance is $1.”
Referring to XRP, DonAlt says the seventh-largest cryptocurrency asset by market capitalization could surge up to 300% from current levels if it continues its upward trajectory.
“This is a monthly breakthrough. If you stick… There isn’t much resistance. Therefore, there is resistance at $1.50, which is 2x down. And one is quadrupled to $3.60. And that’s pretty much it. This is why I trade. Because it’s a very clear deal.”
XRP is trading at $0.85 at the time of this writing, up more than 50% in the past seven days.
Next is Solana (SOL). The analyst says Solana is struggling to sustain a break above $200, but points out that SOL could gain some rocket fuel if Bitcoin (BTC) witnesses more of a rally.
“It’s the largest scope we’ve had (at Solana) in a long time. It’s the biggest breakout that gets all the attention, but doesn’t actually do much. So, not very encouraging for SOL, but still a breakout and technically bullish as long as it holds $180… This one looks weak compared to many others.”
As of this writing, Solana is trading at $214, up less than 10% over the past seven days.
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