#TradeOfTheWeek Altcoins$ALT are heating up, mirroring Bitcoin’s recent bullish breakout, and technical indicators suggest there may be more room to run.
After Bitcoin $BTC powered through the Ichimoku cloud resistance on April 23, it surged into six-figure territory, fueling optimism across the broader crypto market. Now, major altcoins like Dogecoin (DOGE), Ripple (XRP), Ethereum (ETH$ETH ), and Solana (SOL) are showing similar patterns—crossing above their own Ichimoku clouds in what could signal a new wave of bullish momentum.
The Ichimoku Cloud—a classic Japanese charting system developed in the 1960s—helps traders identify trend direction, support, resistance, and momentum. It consists of five lines, but the main focus is on the “cloud” formed by the Leading Span A and B. A price breakout above the cloud is often seen as a bullish trend shift, while a drop below signals bearish momentum.
Altcoins Riding the Wave
DOGE and XRP have both climbed above their respective Ichimoku clouds, hinting at further upside. For XRP, the next resistance target lies near $0.30—right at a key trendline descending from February highs. DOGE is approaching a critical bear market trendline, and a successful breakout could pave the way to test the $3.02 level last seen on March 2.
ETH and SOL are also flashing bullish signals. Ethereum’s breakout has put the 200-day simple moving average (SMA) at $2,700 in sight, a level that could act as a magnet for traders. Solana, on the other hand, faces resistance around $218, which marks the 61.8% Fibonacci retracement of its January-to-April decline.
Market Sentiment Turns Optimistic
The coordinated move above the cloud for these major coins is being interpreted as a broader trend shift. Traders and analysts are watching closely to see if this marks the beginning of a sustained altcoin season, especially as Bitcoin leads the charge with renewed strength.
While crypto markets are always prone to volatility, the current Ichimoku signals suggest that bulls may have the upper hand—at least for now.
Conclusion: Watching for Confirmation
The key going forward will be whether these coins can hold their positions above the Ichimoku cloud and break through upcoming resistance levels. If they do, the next phase of the rally could be just beginning, and altcoins may follow Bitcoin in making substantial gains in the weeks ahead.
