Price Analysis

SOL, DOT, XRP, ONE, and FTT Price Poised For Breakout! Here are Levels to Watch

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The November month has been on the skids for Crypto space with no significant gains. Though market leaders Bitcoin and Ethereum failed to reach the market’s port of call, top-tier altcoins seek hard to uplift the broader market cap. Notably, Solana, Polkadot, Harmony, FTX Token, and Ripple exhibits the virtue of breakout this week. 

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Solana (SOL): 

The Solana price has made a breathtaking move in the second half of the year, with a more than a 500% surge. Consequently, the altcoin remained persistent since the start of Q4 managing the uptrend. The protocol has been trading within a tight symmetrical triangle. The asset may experience a slight pullback between $207 to $219 to confirm the pattern before clinching a high above $235 by the weekend. 

Polkadot (DOT) : 

Polkadot has been one of the trader’s favorite coins in recent days owing to its initiation of the Parachain auction. The DOT price has seen a dramatic rise post the announcement, claiming a new ATH of $55 on 8th November.  The asset has been accumulating an effective bullish pennant channel, an additional drop up to $37.65 would help the solid breakout. The significant surge in the buy orders would exhilarate the price up to $50 by the weekend. 

Ripple (XRP) :

The top-tier altcoin has been peddling hard times with SEC’s prevailing lawsuit against it. Yet the XRP price chart indicates the probable breakout of the solid falling wedge pattern. The four-hour chart from the trading view displays the close fight between buyers and sellers. An increase in the buy orders in the next couple of days would initially uplift the price to $1.18. Further, a continued predominance of bulls would lead the price to $1.30 by the weekend.  

Harmony (ONE) : 

The Harmony price has undergone an exponential growth post the commencement of the second half of the year.  The ONE price seems to be taking a short breather after claiming an ATH of $0.3798 on 26th October. The protocol has been following a tight symmetrical triangle with an equal fight between buyers and sellers. A chunk of sellers moved their bags in the past couple of hours. If the asset continues to plummet up to $0.26 then breakout would kick the price action close to the previous ATH of $0.35.  

FTX Token (FTT) : 

The FTT price has followed an ebb and flow pattern with notable gains since the start of the quarter. The token has been trading within a tight falling wedge channel. With little more strength above the $50.5 levels, the price would initially pass the retest at $55. Further preserving the uptrend, the price would close the week at $60. 

Collectively, the broader market cap displays slow recuperation post the substantial drop over the past week. Meanwhile, the aforementioned coins gain strength at their crucial zone to ride the week with positive gains. However, if market sentiments favor the above coins, then breaking out to mentioned levels looks imminent. 

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Disclaimer : The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of Coinpedia. Every investment and trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Elena R

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

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