Altcoin
Dogecoin Price Breaks Daily Candle With A Breakout Of The Bullish Pennant, Why A 200% Rally Is Possible
The Dogecoin price has undergone bullish action in the last 24 hours on a continued rally from the November 26 low of $0.369. With the Dogecoin price recently trading at an intraday high of $0.4577, this translates to a 24% increase in seven days.
Notably, this rally has seen the Dogecoin price break to the upside of a price pattern formation, which suggests that another major rally is ahead. Interestingly, technical analysis suggests that the Dogecoin price is on track to go on another 200% rally from here.
Dogecoin Price Daily Candle Closes With A Breakout
Dogecoin’s daily candle closed with a breakout above a key resistance level, which has opened it to another 200% price rally from here. Particularly, this resistance breakout occurred as a push above a bullish pennant formation on the Dogecoin price chart, which has been in play since the beginning of November.
This chart pattern was highlighted on social media platform X by crypto analyst Trader Tardigrade, who is known for his technical insights. According to him, Dogecoin’s daily candle closure marks a definitive breakout from the bullish pennant pattern that has been forming over the past month. This pattern, characterized by a period of consolidation following a strong upward move, often precedes another leg up in the asset’s price.
#Dogecoin daily candle closes with a BREAKOUT candle of the Bullish Pennant 🔥$Doge is finally pushed above the resistance to break the pattern and starts the next surge to the target $1.3 🚀 https://t.co/ePF5JXL5WZ pic.twitter.com/TQnSz9jaRm
— Trader Tardigrade (@TATrader_Alan) December 2, 2024
For the case of the Dogecoin price, this upward move started from the beginning of November around $0.143 up until it reached above $0.43. This comes to a 200% rally in less than two weeks. Since then, the Dogecoin price has yet to undergo a strong rally, albeit a few upward moves that have also been complemented by corrections. These fluctuations have collectively shaped the bullish pennant, positioning the Dogecoin price for its next potential breakout move.
Why A 200% Rally Is Possible From Here
The breakout from the bullish pennant has raised the possibility of Dogecoin reaching new heights. With the breakout confirmed, the Dogecoin price could witness another 200% rally in early December, much like it did in early November. Projections indicate that this could see the Dogecoin price breaking above its current all-time high of $0.7316 and subsequently the $1 level.
According to Trader Tardigrade, the price target to watch is $1.3, which is exactly 200% from the bullish pennant breakout level. Achieving this level, however, will require significant bullish momentum from Dogecoin bulls, with key resistance zones needing to be cleared along the way. The first of these key resistance zones lies at $0.457. Beyond this, the next significant challenge will be a significant break above the current 2024 high of $0.476.
At the time of writing, the Dogecoin price is trading at $0.439, and is up by 2.77% in the past 24 hours.
Featured image created with Dall.E, chart from Tradingview.com
American asset management company Canary Capital has taken a new leap with a new filing for a staked Tron ETF product. Known as the pioneer of some of the most renowned altcoin ETF products, this new Tron ETF has further placed the firm at the forefront of the exchange-traded fund drive.
The Canary Capital Staked Tron ETF
According to the prospectus released by the firm, the new product is dubbed the Canary Staked TRX ETF. The firm is yet to reveal the trading platform the product will trade on, however, it confirms it will provide exposure to the price of Tron.
Based on the pricing data offered by Coindesk Indices, Canary Capital said it will rely on this to establish the Net Asset Value (NAV) for the product. This latest filing comes barely a month after the asset manager filed for Pengu ETF with the US Securities and Exchange Commission (SEC).
This is a breaking news, please check back for updates!!!
Godfrey Benjamin
Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Based on historical data, July could be the next bullish month for the XRP price, which continues to consolidate amid this crypto market downtrend. Despite the market downturn, crypto analysts like CasiTrades are confident that the altcoin could still reach a new all-time high (ATH) in this market cycle.
Historical Data Points To July Being The Next Bullish Month For The XRP Price
Cryptorank data shows that July could be the next bullish month for the XRP price. This is based on the fact that the altcoin has recorded significant gains in each of the last five Julys.
Unlike July, April to June have been mixed for XRP over the last five years. For April, the last three out of five months have been bearish for the altcoin, although it recorded a 174% gain in April 2021.
For May, three out of the last five months have been bearish for the XRP price, although it recorded meagre gains in May 2023 and 2024. Meanwhile, June has been completely bearish for the altcoin, as it recorded monthly losses in the last five months.
It is worth mentioning that four out of the five monthly gains for XRP in July have been double-digit gains. As such, Ripple’s native crypto could again record double-digit gains this coming July.
Interestingly, crypto analyst Egrag Crypto predicted that XRP could reach double digits by its July 21 cycle peak. He alluded to the altcoin’s previous bull runs as to why July could mark this cycle’s peak. The analyst believes the Ripple price could reach $27 by then.
Analysts Argue XRP’s Consolidation Could End Soon
Amid this historical data, crypto analysts Dark Defender and CasiTrades have suggested that the XRP price consolidation could end soon. In an X post, Dark Defender stated that the altcoin’s consolidation is nearing an end and that he believes this is the final consolidation of the monthly structure.
Once this consolidation is done, the crypto analyst remarked that market participants can expect the Wave 5, which will send Ripple’s native crypto to new highs. He highlighted $2.22 and $2.30 as the major resistances to watch out for, while $1.88 and $1.63 are the major support levels. Meanwhile, the targets on this Wave 5 up are $3.75 and $5.85, which will mark a new ATH for the altcoin.
As CoinGape reported, crypto analyst CasiTrades also predicted that the XRP price could soon reach $6 as Wave 2 correction nears its end. The analyst also raised the possibility of the altcoin rallying to as high as $9.50 and $12 if it reaches the 2.618 and 3.618 Fibonacci extension levels, respectively.
However, there is still the possibility of the XRP price dropping below the $2 level before it rallies to new highs. Egrag Crypto warned that Ripple’s native crypto could still drop to as low as $1.4 in the event of a major liquidation.
Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across several topics and niches. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover, a traveler and a part-time degen.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
The ETH price’s bearish sentiment since January 2025 has taken a toll on investor confidence, with Ethereum ETFs witnessing significant outflows. As ETH’s value continues to plummet, investors increasingly withdraw their funds. With Ethereum exchange-traded funds recording a massive $32 million in weekly outflows, analysts caution against a potential downtrend.
As Ethereum lingers below the $2,000 mark for weeks, market experts and traders are bracing for a potential further decline to $1,100. Let’s dive deeper into the reasons behind the significant outflows from Ethereum ETFs and its potential impact on ETH price.
Ethereum ETFs Record $32M Weekly Outflows: What’s Happening?
According to SoSoValue, Ethereum ETFs experienced increasing outflows over the past week, driven by the overarching negative market trend. Last week, the ETFs saw a total net outflow of $32.17 million, pushing the month’s outflows to $170.99 million.
In addition, the Ethereum exchange-traded funds experienced an unusual day of neutral flows yesterday, with neither net inflows nor outflows reported. Analyst Ali Martinez shed light on the increasing whale activity over the past week. According to his X post, ETH whales have offloaded 143,000 tokens last week.
Significantly, this negative sentiment could be attributed to the ETH price’s bearish trend which began in January. Ethereum, which stood high-headed above $3,500 at the onset of 2025, started plummeting to reach a severe low of $1,500 in April. This steady downtrend has caused a stir in the market, with traders showing less interest towards the altcoin.
Is ETH Price Poised for a Crash?
Growing pessimism surrounding Ethereum ETFs has led analysts to warn the community that ETH’s price may extend its downward trajectory. For instance, analyst Altcoin Gordon shared a bearish forecast for ETH price, predicting that the token would further drop to $1,100. However, as per CoinGape’s Ethereum price prediction, ETH could destabilize around a minimum of $1,588 in 2025.
Ethereum market share nears all-time lows as bearish chart signals potential $ETH price drop to $1,100 👀 pic.twitter.com/NKr45vB4V5
— Gordon (@AltcoinGordon) April 15, 2025
As of press time, ETH is valued at $1,592, down by a marginal 0.20% in a day. Despite a 2.3% surge over the past seven days, ETH has seen a massive dip of 21% in a month. This negative vibe is also reflected on the traders’ sentiment, with the 24-hour trading volume decreasing by 23% to reach $10.5 billion.
Significantly, the Ethereum transaction fees’ recent crash to a five-year low has also contributed to the overall bearish sentiment.
Ethereum Bulls Remain Optimistic
Despite these bearish predictions and negative Ethereum ETF trend, bulls remain optimistic about the ETH price. Analysts like Crypto Rover and CryptoGoos shared their bullish outlooks on Ethereum, invoking investors’ enthusiasm.
According to CryptoGoos, ETH is expected to repeat history to surge beyond $2,800 in the near future. Meanwhile, market expert Crypto Rover projected the ETH price’s potential journey to an ambitious $10,000. However, it needs to be seen whether ETH can break through its current resistance levels and achieve these lofty targets.
Nynu V Jamal
Nynu V Jamal is a passionate crypto journalist with three years of experience in blockchain, web3, and fintech spheres. She has established herself as a knowledgeable and engaging voice in the cryptocurrency and blockchain space. Her experience as an Assistant Professor in English Language and Literature has further added to her quest for crafting informative, well-researched, and accessible content.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Solana (SOL) Price Rises 13% But Fails to Break $136 Resistance
Pi Network Roadmap Frustrates Users Over Missing Timeline
MEME Rallies 73%, BONE Follows
Canary Capital Files For Staked Tron ETF
XRP Volume Plunges 20% Amid Market Uncertainty
BONK Symmetrical Triangle Squeeze: Is A Mega Breakout Imminent?
2.52 Million Altcoins Are Ruining Crypto’s Future
Animoca Brands Valuation Tanks 75% In Two Years, Here’s Why
Crypto exchange BingX hacked for $43 million
Are The Big Players Losing Interest?
Hong Kong’s Securities Association Tips Authorities On Crypto Self-Regulation
Coinbase cbBTC Set to go Live on Solana
2.52 Million Altcoins Are Ruining Crypto’s Future
Animoca Brands Valuation Tanks 75% In Two Years, Here’s Why
Crypto exchange BingX hacked for $43 million
Are The Big Players Losing Interest?
Hong Kong’s Securities Association Tips Authorities On Crypto Self-Regulation
Coinbase cbBTC Set to go Live on Solana
-
Ethereum24 hours agoEthereum Investors Suffer More Losses Than Bitcoin Amid Ongoing Market Turmoil
-
Market20 hours agoEthereum Price Fights for Momentum—Traders Watch Key Resistance
-
Altcoin20 hours agoExpert Predicts Pi Network Price Volatility After Shady Activity On Banxa
-
Ethereum16 hours agoEthereum Fee Plunges To 5-Year Low—Is This A Bottom Signal?
-
Altcoin23 hours agoTron Founder Justin Sun Reveals Plan To HODL Ethereum Despite Price Drop
-
Market18 hours agoIs XRP’s Low Price Part of Ripple’s Long-Term Growth Strategy?
-
Market22 hours agoSui Meme Coins Surge With Rising DEX Volumes
-
Altcoin21 hours agoAnalysts Predict XRP Price to Hit $6 as Wave 2 Correction Nears End
✓ Share: