dailyhodl.com
A pseudonymous analyst and trader is leaning bullish on a major memecoin while updating his outlook on two top-10 altcoins by market cap.
The analyst pseudonymously known as DonAlt tells 62,700 subscribers of the TechnicalRoundup YouTube channel that Dogecoin (DOGE) could skyrocket by approximately 165% from the current level.
“Is Dogecoin going to a dollar? I still think so. Yeah.”
Dogecoin is trading at $0.378 at time of writing, up by around 90% over the last seven days.
According to the pseudonymous analyst, Dogecoin has one major resistance level to overcome before hitting his price target.
“Dogecoin is still very strong… As long as the crypto market stays heated, and I think it’s going to stay heated for at least a couple of weeks, I think targets make sense to be higher. Like $0.58 here and then the meme resistance at $1.”
Turning to XRP, DonAlt says that if the seventh-largest crypto asset by market cap continues its upward trajectory, it could surge by up to 300% from the current level.
“It’s a monthly breakout right now. If it sticks… there’s really not that much resistance. So there’s a resistance at $1.50 which would be a 2x away. And then one at $3.60 which is a 4x. And that’s pretty much it. It’s why I’m trading just because it’s a pretty clear trade.”
XRP is trading at $0.85 at time of writing, up by more than 50% over the past seven days.
Next up is Solana (SOL). The analyst says that Solana is struggling to sustain its break out above $200, but notes that SOL can get rocket fuel if Bitcoin (BTC) witnesses more rallies.
“It’s [Solana’s] the biggest range we’ve had in a long time, the biggest range breakout with all the eyes on it and didn’t really do s**t. So not too encouraging for SOL but it is still a breakout right and as long as it holds $180, that’s technically bullish… This one’s looking weak in comparison to a lot of other things.”
Solana is trading at $214 at time of writing, up by less than 10% over the past seven days.
Generated Image: Midjourney