Share this article
DOGE, XRP, ETH, SOL Follow Bitcoin Through the Cloud as Altcoin Momentum Builds
Top altcoins are mimicking BTC's late April bullish breakout that set the stage for a rally to $100,000.
Updated May 9, 2025, 12:56 p.m. Published May 9, 2025, 11:57 a.m.
What to know:
- The bitcoin price surged into six figures after bullishly moving past the Ichimoku cloud resistance on April 23.
- Top cryptocurrencies including DOGE, XRP, ETH and SOL have followed suit, indicating they too may be set for gains.
This is a daily technical analysis by CoinDesk analyst and Chartered Market Technician Omkar Godbole.
About two weeks ago, I discussed bitcoin's (BTC) bullish breakout above a technical resistance called the Ichimoku cloud and potential for a rally to $100,000. This week, the cryptocurrency obligingly surged into six figures.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Now, top alternative cryptocurrencies such as memecoin DOGE, payments-focused XRP, the Ethereum blockchain's ether (ETH) and Solana's SOL have also crossed above the cloud, flashing bullish signals.
The analysis, developed by a Japanese journalist in the 1960s, is used to identify support and resistance, momentum and trend change in price actions. The indicator comprises five lines: Leading Span A, Leading Span B, Conversion Line or Tenkan-Sen (T), Base Line or Kijun-Sen (K), and a lagging closing price line.
The gap between the first two lines makes the cloud. Crossovers above and below the Ichimoku cloud are taken to represent bullish and bearish shifts in momentum.
The chart shows XRP and DOGE moving above their respective Ichimoku clouds, signaling more gains.
In XRP's case, the breakout shifts focus to resistance at around 30 cents, characterized by the trendline falling from February highs. DOGE is trading close to its bear market trendline, which, if topped, would expose resistance at $3.02, the lower high created on March 2.
In ETH's case, the breakout has opened the doors to the 200-day simple moving average (SMA) at $2,700. Meanwhile, SOL may encounter resistance at $218, the 61.8% Fibonacci retracement of the January to April sell-off.
Lebih untuk Anda
Yang perlu diketahui:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
Lebih untuk Anda
Crypto Markets Today: Bitcoin Stuck in Post-Fed Range as Altcoins Slump Deepens
Bitcoin remains trapped in a range despite the U.S. rate cut, while altcoins and memecoins struggle to attract risk appetite amid shifting investor behavior.
Yang perlu diketahui:
- BTC briefly dipped below $90,000 after Wednesday's 25 basis-point U.S. rate cut before rebounding, but price action lacked a clear fundamental catalyst.
- Tokens such as JUP, KAS and QNT posted double-digit weekly losses, while CoinMarketCap’s altcoin season index fell to a cycle low of 16/100.
- CoinDesk’s Memecoin Index is down 59% year-to-date versus a 7.3% decline in the CD10, highlighting a shift from retail-driven hype to more institutionally led, slower-moving markets.
Top Stories
