The cryptocurrency market is approaching the end of the year, which increases optimism among market participants. Bitcoin has surged to new highs and is currently in a passive state, suggesting that altcoins may take over the rally. However, the top ten popular coins have already begun to rise significantly. Now, the technical outlook for Dogecoin (DOGE) and Solana (SOL) has turned bullish, and a strong rebound may be imminent.
The TD Sequential indicator is used to determine the exact timing of trend exhaustion and reversal, and is considered a powerful tool. This indicator has just issued a buy signal for DOGE and SOL, indicating that a price rebound is expected at any moment. Additionally, the price of Dogecoin is accumulating within a narrow range, suggesting that strong breakouts will occur due to a significant decrease in selling pressure.
Despite facing upward pressure, the price of Dogecoin remains within an ascending triangle, indicating a bullish pattern. The increase in trading volume suggests heightened trading activity, which may sustain the token's volatility. On the other hand, the RSI has triggered a rebound from the lower bound, while the MACD, which is about to experience a bullish crossover, validates the bullish argument. Therefore, it is believed that the price of Dogecoin will continue to accumulate within the pattern and reach its peak in early 2025, followed by a breakout to a new ATH.
Will the price of Solana (SOL) reach new highs in 2025?
As previously mentioned, this indicator has also issued a warning signal for Solana, indicating that a trend reversal may occur. After a strong rebound, the price is steadily approaching $200, and an annual closing price above these levels could activate higher targets above $300. At the same time, the medium-term bearish impact may be concerning, which could prevent the rebound from breaking through $200.
The daily chart for SOL appears bullish, as the token has triggered a surge rebound. However, the bearish Ichimoku cloud remains within the trend, indicating that a bearish reversal may hinder the progress of the rebound. Conversely, the MACD shows a decline in selling pressure and a potential bullish crossover. Concerns about a drop below $185 may weigh on Solana's price increase before this.
The prices of Dogecoin (DOGE) and Solana (SOL) have reached key targets, so a stable rise above their respective resistance levels may see a strong upward movement in the coming days.
