This is a sunny technical examination of coindesk analyst and chartered market technician Omkar Godbole.
About two weeks ago, I discussed Bitcoin’s (Btc) bullish breakout above a technical resistance called ichimoku cloud and Potential for a rally at $ 100,000. This week, cryptocurrency is obliged to advance to six figures.
Today, leading alternative cryptocurrencies like memecoin DogePayments are committed XRPThe Ethereum Blockchain’s Ether (Eth) and Solana’s Sol Also crossed above the cloud, flashing bullish signals.
The review, developed by a Japanese journalist in 1960, was used to identify support and resistance, momentum and trend in price actions. The indicator consists of five lines: top span A, top span B, conversion line or tenkan-sen (T), base line or kijun-sen (K), and a closing line closure.
The gap between the first two lines makes a cloud. The crossovers above and below the Ichimoku cloud were taken to represent the bullish and bearish shift at momentum.
The chart shows XRP and Doge moving above their —they are ichimoku clouds, which signed more acquisitions.
In the case of XRP, breakout change focuses on the resistance to nearly 30 cents, characterized by the downfall from the highs of February. The DOGE is trading near the trendline of its bear market, which, in the lead, exposes the resistance to $ 3.02, the lower high creation on March 2.
In the case of ETH, the breakout opened the doors to the 200-day simple moving average (SMA) at $ 2,700. Meanwhile, SOL may meet a resistance to $ 218, the 61.8% Fibonacci Retracement of January to April Sell-off.
