By cryptoadmin Crypto analyst Ali Martinez stated that the increasingly tight technical structures in Dogecoin ($DOGE) and $XRP prices could pave the way for a strong move in the coming period. The analyst shared the critical resistance levels to watch for both altcoins in the short term.
According to Martinez, Dogecoin continues to consolidate within a descending triangle pattern. He notes that as the price approaches the peak of the pattern, its range of movement is narrowing, suggesting that this consolidation indicates a potential breakout in $DOGE.
On the Dogecoin side, Martinez is closely watching the critical level of $0.095. According to the analyst, a 4-hour candle close above this level could confirm an upward breakout. In such a scenario, Dogecoin is expected to initiate a rise towards $0.106.
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Martinez also noted that a significant price movement could be approaching for $XRP. He stated that whales have largely remained on the sidelines over the past week, and that large investors haven’t seen any significant changes in their $XRP holdings. However, he pointed out that the price continues to be squeezed within a triangle formation.
The fact that the $XRP price is also approaching the peak of the formation strengthens expectations that volatility may increase again. According to Martinez, the critical resistance for $XRP is at the $1.53 level.
The analyst stated that a 4-hour candle close above $1.53 would confirm the bullish breakout, predicting that the price could move towards $1.62 in this scenario.
*This is not investment advice.