See price analysis of Solana, BNB, XRP and Dogecoin

The cryptocurrency market continues to show signs of optimism, with analysts pointing to upside potential for several altcoins following Bitcoin’s recent stable performance and increasing focus on Ethereum.

Cryptocurrency analyst Rakesh Upadhyay shared his price predictions for Solana (SOL), Binance Coin (BNB), XRP and Dogecoin (DOGE), highlighting possible appreciation and correction scenarios for these cryptocurrencies.

According to the analyst, Solana recently fell to the $162 breakout level, indicating a lack of demand at higher levels.

“The 20-day exponential moving average (EMA) at $164 is stabilizing, and the RSI slightly above the midpoint suggests a slight edge for the bulls,” said Upadhyay.

If the rebound holds, Upadhyay believes bulls will try to take SOL/USDT to $189 and then resistance at $205.

On the other hand, if the price declines and breaks below $162, it would signal that the bulls have given up. Thus, he points out that this could start a downward movement to $140 and then to $126, where bulls are expected to defend this level with vigor.

Cryptocurrency price analysis

Meanwhile, BNB has been holding above the moving averages in recent days. However, the bulls are yet to challenge the $635 resistance.

“The 20-day EMA at $595 is gradually rising and the RSI above 58 suggests a slight edge for the bulls,” noted Upadhyay.

The analyst highlights that if buyers manage to push the BNB/USDT pair above $635, Upadhyay predicts that the pair could begin the next leg of the uptrend towards $692.

However, if the price turns down from overhead resistance and dips below the uptrend line, it will indicate that the pair may extend its stay within the range, possibly falling to $536 and then $495.

Regarding XRP, he states that the token began a rebound from the 20-day EMA at US$0.52 on May 24, but was unable to sustain this strength.

For him, the bears will try to strengthen their position by pulling the price below the moving averages. If they succeed, the XRP/USDT pair could slide towards the support line, where bulls are likely to buy the dip.

But, according to the analyst, if the price rises from the current level or support line and breaks above $0.57, it will complete an ascending triangle pattern, and may then attempt a rally to the pattern target at $0. 68.

Dogecoin Analysis

Closing the analysis, regarding Dogecoin, he highlights that DOGE has been oscillating close to the US$0.17 level in recent days. This indicates a contest between the bulls and the bears.

“The upward-sloping 20-day EMA at $0.16 and RSI above 58 suggest that the path of least resistance is to the upside,” said Upadhyay.

For him, if buyers keep the price above US$0.17, the possibility of a breakout above US$0.18 increases, which could lead the DOGE/USDT pair to shoot towards US$0.21.

But, the analyst points out that if the price turns around and falls below the moving averages, it will signal that the bears continue to sell on each small rally, and could then slide to $0.14 and remain within the range for a while longer.