AltSeason has been much awaited for a pretty long time, and while some altcoins attempt to make a larger move, Bitcoin slashes hard, dragging the entire crypto space towards the bottoms. Ever since the beginning of the 2022 trade, a similar scenario has been repeating each time, weakening the momentum of the altcoins. However, with the resurgence of the two popular cryptos, Bitcoin & Ethereum also may jump into action.
The Ripple price is trading within a deep descending trend for almost a year and finding the right opportunity to lay down a strong uptrend. The recent rejection from the upper resistance was pretty expected as the price flowing within a descending triangle had to reach the apex. However, now that the XRP price has ignited a bounce from the lower support, the upcoming weeks may be pretty fruitful.
The XRP price ignited the present week trade on a bullish note after recording constant 4 bearish closes. And hence with a strong flip, the price appears to be primed to hit immediate resistance at $0.71 anytime from now. Further, the price after testing these levels may face minor turbulence but the bulls may take the price higher to $0.91 to $0.99. After achieving these levels, the XRP price may easily hit $1 and test the higher highs.
A similar scenario is been displayed with the DOGE price as the asset is on the verge to break out from the year-long consolidation. The asset has recorded a good bullish start to the week as it moved above the falling wedge’s upper trendline. No doubt it has surged below 5% but yet managed to hover out of the falling wedge. And hence the current price set-up displays a possibility of a 50% upswing to hit the levels beyond $0.2 very soon.
The price’s weekly forecast is still pretty uncertain as to the possibilities of the asset re-entering the pattern emerges. And in such a case, the bullish scenario may be put-off for some period. Moreover, the current weekly candle is also bearish, while the bullish pressure still accumulates well. The current accumulation within a very narrow range points toward a significant breakout in the upcoming days. In extended cases, the DOGE price may even range up to $0.35
With the spike in the most stagnant cryptos, XRP & DOGE, the other altcoins also undergo a significant spike. And hence a massive Altseason may erupt soon which may raise the altcoin market cap by nearly 25% to 30% in the coming month, as the market cap holds above the crucial support. Therefore, after a pretty long gap, the popular assets may undergo a notable rebound soon.
Was this writing helpful?