Outside Source
This week, we examine Ripple, Cardano, Dogecoin, Shiba Inu, and Sui in greater detail.
Ripple (XRP)
XRP is quickly approaching $1 and has impressed with a 47% price increase in the past seven days. This performance allowed it to break all key resistance levels until $0.92, which is still standing at the time of this post.
The current support is at $0.68, and considering the massive pump, the price may enter a brief pullback so that buyers can take a break before they resume their assault toward the key resistance.
Looking ahead, XRP is well-positioned to challenge the $1 psychological level in the near future. If successful, this cryptocurrency will reach price levels not seen since 2021, when it almost reached $2.
Cardano (ADA)
Cardano had a fantastic start in November, and this continued this week, closing with a 41% price increase. ADA is now found just under the key resistance at $0.6, which appears unlikely to hold buyers.
If the resistance breaks, the next target is found at $0.7. Once there, this cryptocurrency will return to price levels that were last seen in March. While the buy volume has decreased since early November, the bullish momentum remains strong.
Looking ahead, ADA appears determined to reach new peaks and even aim for $1 in the future. Considering its all-time high is at $3, there is plenty of room left to go.
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Dogecoin (DOGE)
This OG meme coin surprised the market with its quick rally in November, and it has increased by 90% in the past seven days alone! This type of performance has pushed buyers’ attention back towards Dogecoin, which remains extremely bullish.
The current rally reached almost $0.44 before correcting it, and the price is now trying to break the resistance at $0.4. If successful, DOGE has a good shot at higher highs, with $0.5 as a key target. After that, the all-time high at $0.74 will be next.
Looking ahead, DOGE and other meme coins are outperforming most altcoins, which only encourages market participants to shift to this category of cryptocurrencies. As the largest and oldest meme coin, DOGE is poised to benefit from this market sentiment.
Shiba Inu (SHIB)
Another meme coin, another bullish chart. SHIB impressed this week with a 26% price increase which took it just under the key resistance at $0.000025. This level is unlikely to hold long if buyers continue like this.
At the time of this post, the price is found in a pullback after its recent rally and may find good support around $0.000022 before buyers resume their assault. The volume also increased notably in the past week, which is a bullish signal.
Looking ahead, SHIB’s next targets are found at $0.000030 and $0.000045 should the current resistance fall. This will take the asset back to March levels when the last major rally took place.
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.
The key resistance is found at $3.4 and buyers will have to break this level and turn it into a support if they want to take the asset higher with key targets at $4.1 and $5.2. If selling intensifies, then SUI has good support at around $3.
Looking ahead, SUI is one of the few altcoins that managed to make an all-time high in this cycle. This fact alone will make it one of the favorite altcoins in the space right now.
This article first appeared at CryptoPotato
