Technical analyzes point to high for Dogecoin, XRP and Solana

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Veteran trader Peter Brandt shared bullish analysis on the recent price movement of Dogecoin (DOGE), XRP, and Solana (SOL), highlighting technical patterns that could indicate strong future valuations.

Dogecoin breaks resistance patterns

According to Brandt, the Dogecoin broke two technical patterns on the weekly chart throughout 2024. This could signal bullish momentum for memecoin. The trader stated that the asset surpassed both the resistance of a descending channel and the inverted head-shoulder pattern, known to indicate a bullish trend reversal.

Brandt shared a chart that suggests DOGE could reach a price of $0.734 based on these breakouts. Currently, the asset is trading at US$0.388, with a daily decline of 1.4%.

Dogecoin price chart for the last 24 hours. Source: CoinGecko

Highlighted technical patterns indicate that buyers may be gaining strength and halting the downward movement. Historically, this has driven the price of Dogecoin in bull cycles.

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XRP ready to soar

About XRPthe analysis showed that the cryptocurrency overcame a diagonal resistance that had been limiting its price since 2018. According to Brandt, this leaves the asset prepared for significant gains, especially if the price exceeds the 2021 high, set at US$ 1.60.

He described the XRP chart as a “big windup” and highlighted that the recent breakout of resistance could trigger a significant rally. At the time of analysis, XRP was trading at $1.13, up 1.5% in the last 24 hours, according to CoinGecko.

XRP price chart for the last 24 hours. Source: CoinGecko

Solana looks high historic

Finally, Brandt also said he believes Solana is positioned to reach a new all-time high of $274. He based his projection on price behavior in “even swings,” which often indicate the continuation of uptrends.

At the time of analysis, SOL price was at $237, with a daily drop of 3.2%. The current price suggests further upside potential if technical patterns are confirmed.

Solana price chart for the last 24 hours. Source: CoinGecko
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