The crypto market shifted to the upside last week with Bitcoin surpassing the $65,000 mark.
The altcoin market especially the memecoins is following the upward trend.
XRP might be ready to break out from a descending channel and should be able to establish bullish momentum soon.
Ethena is on the verge of flipping a major resistance level that could determine its future.
Dogecoin and Bonk are showing similar price action and should be ready to rally this week.
The crypto market turned green last week, with Bitcoin crossing the $65,000 mark to the upside again and now sitting at around $65,500.
The altcoin market—particularly the memecoins—is now following the flagship cryptocurrency to the upside.
Here are some top cryptocurrencies to capitalize on this week, for the best altcoin trading experience.
XRP in the charts, is up by around 3.5% on the daily timeframe, and by 4.6% on the weekly.
This indicates that the bulls are back in action and might be planning a comeback.
XRP’s price action
According to the charts, XRP broke out of the larger ascending channel illustrated below on 16 July.
However, instead of a post-breakout rally, the cryptocurrency started a smaller descending channel and consolidated until 28 September.
Incoming breakout on XRP
As shown by the charts, the cryptocurrency is now attempting to breakout of this consolidation and could be starting a major price pump this week.
This is also without mentioning how XRP is also trading above its major moving averages.
The Bulls have more than a good chance of taking control this week. To this end, investors should keep a major eye out for an XRP comeback.
According to data from CoinMarketCap, Ethena has been bullish on the weekly and daily timeframe.
The cryptocurrency gained 3.42% over the last 24 hours before writing, and is up by a staggering 32% over the last week, as shown by the snapshot below:
Ethena’s price performance
According to the charts, Ethena trades within a descending channel and is attempting to break out of the upper trendline of the channel.
Ethena’s price outlook
One of the biggest hurdles to this breakout is the $0.3775 price level, which interestingly, is reinforced by the 99-day EMA.
With this in mind, Ethena is poised for a massively bullish week if the bulls continue to push forward and we see a break above this price level.
To put all of the above into perspective:
The Bears win if ENA for some reason breaks below the 25-day EMA around $0.2890. On the flipside, if we see a breakout and close above the 99-day EMA around $0.3987 the bulls will have enough strength to push the price to as high as $0.82.
Dogecoin is another massively bullish cryptocurrency on most timeframes.
According to CoinMarketCap, the cryptocurrency is up by more than 4% within the 24 hours before writing and is trading with around 18% in the bag within the last week.
Dogecoin’s price performance
According to the charts, we can see that Dogecoin recently completed its post-breakout consolidation on 26 September.
It then broke above the $0.11246 price resistance (which is also its 99-day EMA) and is attempting to test the next Fibonacci retracement level around $0.13739.
Price outlook for Dogecoin
This is where investors must capitalize on because if we see a break and close above this price level within the week, the next resistances include $0.15490 and $0.17240.
In essence, the bears only retake control if we see a break below $0.11246.
Bonk is another memecoin at the forefront of the memecoin revolution.
The cryptocurrency is up by around 3.35% over the last 24 hours before writing and by an impressive 30.9% over the last week.
The price action of Bonk
This shows a great deal of strength on the part of the bulls.
It also goes without mentioning that according to the charts, Bonk is in the middle of a breakout of its own.
Bonk’s price performance
The illustrated chart shows that the cryptocurrency is finalizing a breakout from the falling wedge shown above.
It has also formed a new higher high above its previous local high of $0.00002324.
This indicates that the breakout might indeed be a valid one. After a brief consolidation around the $0.00002334 price level, we should see a major turn-up to the upside.
According to the CoinMarketCap, DogWifHat is up by a relatively smaller 0.45% over the last 24 hours.
However, on the weekly timeframe, the cryptocurrency is in the middle of a 30% price increase over the last week.
DogWifHat’s price performance
Interestingly, DogWifHat is showing incredible similarities to Dogecoin’s price action and is trading just underneath the $2.5 resistance.
DogWifHat’s price action
This means that investors should keep an eye out for the $2.5 price level.
If the bulls apply slightly more momentum and we see a break above this price level, some of the other major price targets for DogWifHat include $2.954, $3.4, and $3.966.
All of the above, of course, depends on WIF’s strength around and above $2.5.
Disclaimer: Voice of Crypto aims to deliver accurate and up-to-date information, but it will not be responsible for any missing facts or inaccurate information. Cryptocurrencies are highly volatile financial assets, so research and make your own financial decisions.