The markets have risen above the bearish influence ever since the tokens triggered a rebound in the last few weeks of 2023. Further, at the beginning of February 2024, the bulls jumped in action and uplifted Bitcoin and some of the altcoins, which was fueled by multiple reasons. Now that the memecoin mania has heated up, some of the popular altcoins are also close to triggering a strong breakout.
Dogecoin (DOGE) Rises Above the Multi-Year Downtrend
- The Dogecoin price maintained a stagnant trend for over a year and rose above the consolidation during the previous week
- This move has opened the doors for the price to test one of the key resistances at $0.2, which may pave the way for the token to enter the important resistance zone between $0.32 and $0.36.
- Besides, the RSI has reached the upper threshold for the first time since the 2021 bull run and is expected to remain within the range for a while
- Therefore, the DOGE price is expected to maintain a significant upswing and reach the upper resistance zone. After consolidating for a while, the price may trigger a fresh bullish trend and mark new highs, probably close to $0.9 to $0.95.
Uniswap (UNI) Price Approaches the Trend Reversal Zone
- After consolidating for a long time, the UNI price triggered a healthy rebound from the lows and has been maintaining an upswing for over a week
- With this, the price is testing one of the crucial resistances which has been acting as a strong support during the 2021 bull run
- Besides, the MACD has raised within the bullish range for the first time in the past 24 months, suggesting the buying pressure could pile up very soon
- Therefore, the DOGE price is believed to pierce through the upper resistance and eventually validate the beginning of a fresh bull run
Polkadot (DOT) Price Ready to Explode
- Compared to all other major cryptos, Polkadot appears to have not begun with an upswing, which suggests the token has more room to grow
- The price has soared by 50% in the past month, due to which the Bollinger bands have displayed some expansion
- Besides, the DMI is going bullish but the levels have just departed against each other and do not pose extreme volatility
- Therefore, the DOT price is expected to follow the market trend, surge slowly and steadily and exhibit a huge upswing in the coming days