A reputable cryptocurrency trader, commonly known by his pseudonym, DonAlt, is predicting a significant rise in the value of Ethereum, fueling optimism among crypto enthusiasts.
DonAlt, in a recent YouTube videosuggested that Ethereum could see an increase of about 36% from its current value, depending on its ability to convert a critical resistance level into a support level.
Rally on the horizon?
Ethereum experienced a failed breakout attempt from around $1,900, but the lack of a subsequent downturn indicates a possible rally. Should Ethereum successfully close above $1,900, a rapid rise to around $2,500 is more than achievable, the crypto trader said. At the time of his analysis, Ethereum was trading at $1,842.
XRP poised for success
Turning his attention to XRP, DonAlt noted that the digital asset, currently ranked sixth by market capitalization, is showing promising signs of an impending breakout. He believes speculation about the outcome of the pending U.S. Securities and Exchange Commission (SEC) lawsuit against Ripple, XRP’s parent company, is fueling this interest.
Related: XRP Price All Poised For A Big Move; Here is the XRP price prediction for June 2023
As with Litecoin, XRP appears to be gradually gaining momentum, albeit at a more robust pace. Given the current pattern, DonAlt expects XRP to experience a significant upward shift. At the time of his evaluation, XRP was valued at $0.528.
Dogecoin is on a downward trajectory
On the other hand, Dogecoin (DOGE), a well-known meme coin, appears to be on a downward trajectory according to DonAlt’s analysis. Once made very popular by tech mogul Elon Musk, his reputation has since tarnished and price action has steadily declined.
DonAlt was trading Dogecoin when Musk briefly changed his Twitter logo to a Doge, only to find that the subsequent price action lacked substance. The chart shows a declining pattern, which DonAlt says does not promise much potential for the digital coin. At the time of his analysis, Dogecoin was trading at USD 0.0680.
