A pseudonymous analyst and trader leans bullishly on a major memecoin as he updates his views 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 around 165% from current levels.
“Is Dogecoin going to a dollar? I still think that. Yes.”
Dogecoin is trading at $0.378 at the time of writing, up about 90% in the last seven days.
According to the pseudonymous analyst, Dogecoin must overcome one major resistance level before reaching its price target.
“Dogecoin is still very strong… As long as the crypto market remains heated, and I think it will for at least a few more weeks, I think it makes sense for the targets to be higher. Like $0.58 here and then the meme resistance at $1.”
As for XRP, DonAlt says that if the seventh-largest crypto asset by market cap continues its upward trajectory, it could rise up to 300% from current levels.
“It is currently a monthly outbreak. If it sticks… there really isn’t that much resistance. So there is resistance at $1.50, which would be a factor of 2x away. And then one for $3.60, which is a 4x. And that’s about it. That’s why I’m just trading because it’s a pretty clear trade.”
XRP is trading at $0.85 at the time of writing, up more than 50% in the last seven days.
Next up is Solana (SOL). The analyst says Solana is struggling to sustain its break above $200, but notes that SOL could get rocket fuel if Bitcoin (BTC) witnesses more rallies.
“Are [Solana’s] the biggest reach we’ve had in a long time, the biggest reach breakout with all eyes on it and not really doing anything. So not too encouraging for SOL, but it’s still a breakout and as long as it’s at $180, that’s technically bullish… This one looks weak compared to a lot of other things.”
Solana is trading at $214 at the time of writing, up less than 10% in the last seven days.
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Generated image: Midjourney