This week we take a closer look at Ripple, Cardano, Dogecoin, Shiba Inu and Sui.
Ripple (XRP)
XRP is quickly approaching $1 and has impressed with a 47% price increase over the past seven days. This performance allowed it to break through all key resistance levels up to $0.92, which is still standing at the time of writing.
Current support is at $0.68, and given the massive upside, the price could see a brief pullback so buyers can take a breather before resuming their assault towards key resistance.
Looking ahead, XRP is well positioned to challenge the psychological $1 level in the near future. If successful, this cryptocurrency will reach price levels not seen since 2021, where it almost reached $2. Cardano (ADA)
Cardano had a fantastic start to November, and that continued this week, closing with a 41% price increase. ADA now sits just below key resistance at $0.6, which appears unlikely to hold buyers back.
If the resistance breaks, the next target is at $0.7. Once there, this cryptocurrency will return to the price levels last seen in March. Although purchasing volume has declined since early November, the upward momentum remains strong.
Looking ahead, ADA seems determined to reach new highs and even aim for $1 in the future. Given that its all-time high is $3, there is still plenty of room left. Dogecoin (DOGE)
This OG meme coin surprised the market with its rapid rally in November, and it’s up 90% in the last seven days alone! This type of performance has pushed buyer attention back towards Dogecoin, which remains extremely bullish.
The current rally reached near $0.44 before correcting it, and the price is now trying to break the resistance at $0.4. If successful, DOGE has a good chance of reaching higher highs, with $0.5 as a key target. After that, the all-time high of $0.74 will be next.
Going forward, DOGE and other meme coins will outperform most altcoins, which only encourages market participants to move towards this category of cryptocurrencies. As the largest and oldest meme coin, DOGE is poised to benefit from this market sentiment. Shiba Inu (SHIB)
Another coin, another bullish chart. SHIB impressed this week with a 26% price increase, which placed it just below key resistance at $0.000025. This level is unlikely to hold for long if buyers continue like this.
At the time of writing, the price is in decline after its recent rally and could find good support around $0.000022 before the buyers resume their assault. Volume also increased noticeably last week, which is a bullish signal.
Looking ahead, SHIB’s next targets are at $0.000030 and $0.000045 if current resistance falls. This will bring the asset back to March levels during the last major rally.SUI
This cryptocurrency set a new record this week after surging 45%, reaching $3.5! With this most recent rally, SUI has entered into price discovery. This is an extremely bullish signal that reflects the price action of Bitcoin, which also set a new record high last week.
Key resistance lies at $3.4 and buyers will need to break through this level and turn it into support if they want to push the asset higher with key targets at $4.1 and $5.2. If selling intensifies, then SUI has good support at around $3.
Looking ahead, SUI is one of the few altcoins that managed to reach an all-time high during this cycle. This fact alone will make it one of the industry’s favorite altcoins right now.