Bitcoin (BTC) and Terra Analysis: Downtrend Could Come to an End

Bitcoin continues its struggle to reach its 2023 peak of $38,000 and above. The price, which just turned around at $37,841 a few minutes ago, is currently hovering around the $37,650 region. This volatility also brings hope for altcoins. So, what do the latest forecasts suggest for XRP, DOGE, and SOL Coin?

Ripple (XRP) Coin Analysis

The XRP price is now finding buyers at $0.645 and recovering after dropping to $0.597 yesterday. We mentioned that the $0.65 region is an important supply area and a permanent loss could trigger a strong resistance transformation. For now, the price’s re-targeting of this area (with the support of BTC) is promising.

If the downtrend gains momentum again, we may see the price drop to $0.55 and $0.52. This situation will cause XRP Coin to fluctuate between $0.56 and $0.74 for a while. If the price can surpass $0.7 and $0.75 again and reclaim $0.85, the main target of this rapid rise could be $1. In this case, a new peak of $1.36 could also be targeted.

Solana (SOL) Analysis

Daily gains have exceeded 16% and SOL Coin is trading above $66. This is quite impressive and there is lively demand with the GSOL speculation. Moreover, FTX sales have also evaporated and will not disturb the bulls for a long time (until FTX unlocks SOL Coins. Date: 2025-2028).

The next target is $68.23, and closings above this level could lead to a new peak between $75 and $84. If the rally continues further, the target could be $95. The RSI supports the rally, the market demand is strong, and BTC is promising.

Dogecoin (DOGE) Analysis

Dogecoin failed to close above $0.08 on November 11 and 12, but it seems likely to do so today. After falling to the 20-day EMA ($0.07) on November 4, the price is now finding buyers at $0.075. Furthermore, there is potential for further growth as BTC is in the excitement of its new peak. Bears pulled the price below the 20-day EMA, but the long wick in the candlestick indicates strong buying at lower levels. Bulls will once again strive to bring the price to $0.08.

If the bulls succeed, the target above $0.08 could be $0.1, and the downtrend will reverse. In today’s more comprehensive DOGE analysis, it was mentioned at length that the price bouncing from the long-term descending trendline could initiate a parabolic rally.