TradingView analyst TehThomas has noted that XRP price is currently navigating an Ascending Channel, which could pave the way for a potential 20% upward shift. In the 4-hour timeframe, XRP has consistently respected this Ascending Channel, generating higher highs and higher lows—an important signal of an ongoing rally.

Particularly noteworthy is the Golden Pocket’s presence in XRP’s price action. This Fibonacci retracement area is commonly used to pinpoint potential support and resistance levels. It signifies an abrupt reversal in a cryptocurrency’s trend, heralding a potential aggressive rally.

TehThomas has suggested that XRP’s current Golden Pocket coincides with an imbalance zone, a sector of unfulfilled liquidity that prices generally revisit before resuming movement. The Golden Pocket for XRP is located between the 0.618 – 0.65 Fibonacci retracement level—a zone where the price often finds robust support before sustaining the trend.

As long as the XRP price maintains above the pivotal Fibonacci retracement level, which also serves as a critical resistance, the crypto’s bullish structure is likely to persist. If the bullish momentum continues, TehThomas anticipates XRP price to rally to a target between $2.8 to $2.9—a 29% price rise from XRP’s current price of $2.2.

However, TehThomas warns of short-term resistance on the 1-hour timeframe, which could trigger a significant pullback before the next upward leg. A confirmed breakout from the 1-hour imbalance timeframe could bolster XRP’s bullish momentum, aiding its projected move towards the Ascending Channel’s upper levels. But a failure could disrupt this bullish structure, causing a deeper correction toward lower support levels.

The post Anticipating a 20% Leap, XRP Price Finds Support in Golden Pocket appeared first on Crypto Market Insights: Dive In with CryptoUpdate.io.

However, not all hope is lost for Dogecoin’s valuation. As the altcoin approaches a crucial support level, the future trajectory of DOGE’s price could be positive if this level remains robust over the forthcoming weeks.

An astounding 1,450% rally for DOGE could be on the horizon according to a recent post by renowned crypto trader Ali Martinez on the X platform. His analysis suggests that Dogecoin is at a crossroads that could significantly impact its long-term health and trajectory.

Martinez’s analysis is rooted in the formation of an ascending channel pattern on Dogecoin’s weekly price chart. This technical analysis pattern consists of two primary upward-sloping trendlines, with the upper channel line marking the swing highs and the lower boundary line marking the swing lows.

Generally, the asset’s price remains within the channel, with the upper boundary line serving as a resistance zone and the lower one acting as a support cushion. This ascending channel pattern indicates the persistence of an upward price trend.

In Dogecoin’s case, the DOGE price has been in an ascending channel since 2015, consistently rebounding each time it touches the lower boundary line. Given the current proximity of the meme coin to this trendline, past trends suggest that Dogecoin might find support and bounce back.

Martinez suggests that “If DOGE maintains support at the channel’s lower boundary at $0.17, it could trigger a strong rebound toward $2.74.” This potential surge would represent an incredible 1,450% increase from the current price. However, if the support level of $0.17 is breached, we could witness Dogecoin’s price drop to the $0.06 Fibonacci level.

As of now, Dogecoin is struggling to stay above $0.2 after a drop beneath this level at the end of February. At the time of writing, DOGE’s price sits around $0.195, indicating a decline of over 3% in the past 24 hours.

The post Dogecoin’s Potential Rise to $2.74: Key Support Level to Monitor appeared first on Crypto Market Insights: Dive In with CryptoUpdate.io.