“Top Altcoins Are Mimicking Btc’s Late April Bullish Breakout That Set The Stage for A Rally to $ 100,000.”, – WRITE: www.coindesk.com
About Two Weeks Ago, I Discussed Bitcoin’s (BTC) Bullish Breakout Above A Technical Resistance Called the Ichimoku Cloud and Potential for A Rally to $ 100,000. This Week, The Cryptocurrency Obligingly Surged Into Six Figures.
Now, Top Alternative Cryptocurrencies Such as Memecoin Doge, Payments-Focused Xrp, The Ethereum Blockchain’s Ether (ETH) and Solana’s Sol have also Crossed ABOVE ABOVA
The Analysis, Developed by a Japanese Journalist in the 1960s, is used to Identify Support and Resistance, Momentum and Trend Change in Price Actions. The Indicator Comprises Five Lines: Leading Span A, Leading Span B, Conversion Line or Tenkan-Sen (T), Base Line or Kijun-Sen (K), and A Linging Closing Price Line.
The Gap Between the First Two Lines Makes the Cloud. Crossovers Above and Below The Ichimoku Cloud Are Taken to RepreSent Bullish and Bearish Shifts in Momentum.
Doge and Xrp Daily Charts with Ichimoku Clouds. (TradingView/Coindesk)
The Chart Shows Xrp and Doge Moving Above their Respect Ichimoku Clouds, Signaling More Gains.
In XRP’s Case, The Breakout SHIFTS FOCUS TO REASISTANCE AT AROUND 30 CENTS, Characterized by the Trendline Falling from February Highs. Doge is Trading Close to Bear Market Trendline, WHICH, IF TOPPED, WOURSE Expose Resistance at $ 3.02, The Lower High Created On March 2.
Eth and Sol Daily Chart with Ichimoku Clouds. (TradingView/Coindesk)
In eth’s Case, The Breakout Has Opened the Doors to the 200-Day Simple Moving AVERAGE (SMA) AT $ 2,700. Meanwhile, Sol May Encounter Resistance at $ 218, The 61.8% Fibonacci Retracement of the January to April Sell-Off.
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