The crypto markets are heading towards the end of the year, which increases the optimism among the market participants. Bitcoin surged high to form a new ATH and is currently passive, which suggests the altcoins may take over the rally. However, the popular ones within the top 10 have already initiated a decent rise much before. Now that the technicals have turned bullish for Dogecoin (DOGE) & Solana (SOL), a monstrous rally could be fast approaching.
The TD-sequential indicator, used to determine the exact time of trend exhaustion and reversal, is regarded as a powerful tool. This indicator has just flashed a buy signal for both DOGE & SOL, anticipating a price rebound anytime from now. Besides, the Dogecoin price is accumulating within a narrow range, suggesting a strong breakout as selling pressure has dropped considerably.
Despite rising upward pressure, the DOGE price remains in an ascending triangle, indicating a bullish pattern. The increase in volume indicates increased trading activity, which may maintain the token’s volatility. On the other hand, the RSI has triggered a rebound from the lower threshold, while the MACD, which is about to undergo a bullish crossover, validates the bullish claim. Therefore, the Dogecoin price is believed to remain accumulated within the pattern and reach the apex in early 2025, followed by a breakout towards a new ATH.
Will Solana (SOL) Price Mark a New ATH in 2025?
As mentioned earlier, the indicator has also flashed a bur signal for Solana that points towards a potential trend reversal. After a strong rebound, the price is heading firmly towards $200 and a yearly close above these levels may activate the higher targets above $300. Meanwhile, the interim bearish influence could be a matter of concern, which may prevent the rally from rising above $200.
The daily chart of SOL price appears to be bullish as the token has triggered a storm rebound. However, the Ichimoku cloud that turned bearish maintains within the trend, suggesting a bearish reversal could hinder the progress of the rally. Conversely, the MACD shows a drop in the selling pressure and a potential bullish crossover. Until then, the fear of a pullback below $185 could haunt the Solana price rally.
The prices of Dogecoin (DOGE) & Solana (SOL) have reached crucial targets and hence a stable rise above their respective resistance could probably revive a strong upswing in the coming days.
Credit: Source link
