A renowned cryptocurrency trader, widely known by his pseudonym, DonAlt, predicts a significant surge in Ethereum’s value, stirring optimism among crypto enthusiasts.
Ethereum: The Cryptocurrency with Potential for Significant Growth
DonAlt, in a recent YouTube video, suggested that Ethereum could observe an approximate 36% rise from its current value, contingent on its ability to transform a pivotal resistance level into a supporting one.
Ethereum experienced a failed breakout attempt at around $1,900, but the lack of subsequent downturn hints at a potential rally. Should Ethereum successfully close above the $1,900 mark, a swift rise to approximately $2,500 is well within the realm of possibility, according to the crypto trader. At the time of his analysis, Ethereum was trading at $1,842.
XRP: The Crypto Asset Poised for a Breakout
Turning his focus to XRP, DonAlt commented that the digital asset, currently ranked sixth in terms of market cap, exhibits promising signs of an impending breakout. He believes that speculations regarding the outcome of the U.S. Securities and Exchange Commission’s (SEC) pending lawsuit against Ripple, XRP’s parent company, is fueling this interest.
Just as with Litecoin, XRP appears to be gradually gaining momentum, albeit at a more robust pace. Given the current pattern, DonAlt expects that XRP may experience a significant upward shift. At the time of his evaluation, XRP was valued at $0.528.
Dogecoin: A Declining Trend in the Leading Meme Coin
On the other hand, Dogecoin (DOGE), a renowned meme coin, seems to be facing a downward trajectory, according to DonAlt’s analysis. Once highly popularized by tech tycoon Elon Musk, its reputation has since been tarnished, and its price action has been on a steady decline.
DonAlt traded Dogecoin when Musk briefly changed his Twitter logo to a Doge but found the subsequent price action lacking in substance. The chart exhibits a declining pattern, which, in DonAlt’s opinion, doesn’t promise much potential for the digital coin. At the time of his analysis, Dogecoin was trading at $0.0680.