As a seasoned researcher with over a decade of experience in the crypto space, I can confidently say that this week has been nothing short of exhilarating! The impressive performances by Ripple (XRP), Cardano (ADA), Dogecoin (DOGE), Shiba Inu (SHIB), and SUI have truly caught my attention.
This week, we examine Ripple, Cardano, Dogecoin, Shiba Inu, and Sui in greater detail.
Ripple (XRP)
As a researcher, I’m excited to note that XRP is steadily closing in on the $1 mark, having demonstrated an impressive 47% price surge over the past week. This stellar performance has enabled it to breach all major resistance levels up to $0.92, a barrier that remains intact as I write this.
At present, the price level stands at approximately $0.68, but given the significant surge, there could be a temporary dip allowing traders to pause and regroup. Subsequently, they might reinitiate their efforts to push the price higher, aiming for the crucial resistance point.
In the upcoming period, XRP appears primed to surpass the $1 mark psychologically. Should it manage to do so, this digital currency could attain prices last witnessed in 2021, just shy of reaching the $2 threshold.
Cardano (ADA)
cardano experienced a remarkable surge in November, and this upward trend persisted this past week, culminating in a 41% price rise. At present, ADA hovers just beneath the significant resistance level of $0.6, a barrier that seems unlikely to deter investors.
Should the resistance give way, our focus shifts towards a potential new level at 0.7. Upon reaching this point, we can anticipate a reversion to pricing reminiscent of March, which was the last time these levels were observed. Although the buying activity has tapered off since early November, the overall bullish trend continues to show strength.
Moving forward, it seems that ADA is quite committed to scaling new heights and possibly striving for a value of $1 or more. Given that its record high was $3, there appears to be ample scope for further growth.
Dogecoin (DOGE)
In a surprising turn of events last month, the popular meme cryptocurrency saw a swift surge, leaving the market in awe. Over just seven days, its value skyrocketed by an impressive 90%! This extraordinary performance has once again drawn investor focus to Dogecoin, which continues to show strong bullish trends.
The latest surge nearly touched $0.44, but then adjusted, and now the price is attempting to breach the barrier at $0.4. If it manages, Dogecoin could potentially reach new peaks, with $0.5 being a significant milestone. Once that’s surpassed, the all-time high of $0.74 would be within its sights.
In the future, it appears that Dogecoin (DOGE) and other meme-based cryptocurrencies are performing better than many alternative coins, which could lead more investors to focus on this type of digital currency. As the original and largest meme coin, DOGE is well-positioned to capitalize on this market trend.
Shiba Inu (SHIB)
Yet another meme token has shown impressive gains, and Shiba Inu (SHIB) is no exception. This week, its price surged by 26%, coming close to the significant resistance at 0.000025 cents. If the current buying momentum continues, it’s unlikely that this level will withstand for long.
Currently, the price has experienced a dip following its previous surge, potentially finding strong backing near approximately $0.000022. Once this level is reached, it’s likely that buyers will renew their offensive. Additionally, the trading volume has significantly grown over the past week, indicating a positive trend or bullish sentiment.
Moving forward, if the current resistance gives way for SHIB, potential future price points could be reached at 0.000030 and 0.000045. These levels would bring the asset back to where it was during the significant rally in March.
SUI
This cryptocurrency made a new record this week after it surged by 45%, reaching $3.5! With this most recent rally, SUI has entered price discovery. This is an extremely bullish signal and mirrors the price action of Bitcoin which also made a new record this past week.
To move the asset upwards towards $4.1 and $5.2, buyers need to overcome the significant resistance at $3.4 first, making it a future support level. If selling pressure increases, the asset can find support around $3. However, if selling persists, the price may not reach the higher targets.
Moving forward, SUI stands out among other alternative cryptocurrencies as one that has achieved a new peak in this market cycle. Given this achievement, it is likely to become a highly favored altcoin within the crypto sphere at present.
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2024-11-15 14:47