Major cryptocurrencies are showing bullish technical signs that traders should watch closely over the next sessions. Bitcoin (BTC/USD) and the Binance DOGE/BTC pair are carving inverse head-and-shoulders formations on hourly charts, while XRP and Solana (SOL) sit near pivotal breakout and retracement levels.
The hourly picture for bitcoin is constructive: the 50-, 100- and 200-hour simple moving averages have realigned higher and price is testing the neckline of an inverse head-and-shoulders. A confirmed breakout above that neckline would open the path to a higher target that technical analysts view as a re-test near $120,000. The move would likely be supported by positive market sentiment tied to growing expectations for upcoming Federal Reserve rate cuts and potential rotation from money-market funds into risk assets.
DOGE/BTC is mirroring this bullish structure. If DOGE clears its neckline, the pair would signal relative strength for Dogecoin versus Bitcoin — a pattern that historically precedes periods of altcoin outperformance.
What to watch next
XRP is approaching the upper edge of a near two-month descending triangle. A decisive break above that trendline would be a bullish resumption and could target the August high near $3.38 and the July peak near $3.65. The daily MACD has recently produced a positive crossover, adding conviction to the breakout case. Conversely, a drop below $2.67 would give bears a chance to reassert control.
SOL is trending higher with a sequence of higher highs and higher lows. It is probing the 61.8% Fibonacci retracement of the January–April sell-off — a classic “golden ratio” level. A clean move above that zone could attract momentum buying and set targets in the $260–$280 resistance band.
Implications and risk considerations
These technical setups point to upside potential, but traders should manage risk. Breakouts can fail: use confirmation (volume, close above key levels) and consider stop-losses below invalidation points (for example, below $2.67 on XRP). Macro catalysts — including Fed policy shifts and flows out of money-market funds — can amplify moves but also add volatility.
Why it matters: a confirmed breakout in bitcoin could rekindle broad risk-on flows that lift altcoins; strength in DOGE/BTC would suggest altcoin rotation is underway; XRP and SOL setups offer tactical opportunities for breakout traders and swing investors.
Source: CoinDesk. Read the original coverage for full details.