A popular crypto analyst says meme asset Dogecoin (DOGE) could rise by four digits in percentage terms for one key reason.
Crypto trader Ali Martinez tells are 106,500 followers on the social media platform
“Dogecoin could rise another 6,770% if it continues to follow the rising parallel channel pattern!”
An ascending parallel channel pattern is a bullish structure that indicates an asset is in an uptrend and is printing higher highs and higher lows.
DOGE is trading at $0.31 at the time of writing, up 251% in the past year.
Then the analyst say the (TD) Sequential Indicator provides a bullish signal for the decentralized oracle project Chainlink (LINK).
Traders use the TD Sequential Indicator to predict potential trend reversals for tokens based on the closing prices of their previous nine or thirteen bars or candles.
“The TD Sequential presents a buy signal on the Chainlink 12-hour chart, anticipating a price recovery!”
LINK is trading at $20.13 at the time of writing, down 4.3% in the last 24 hours.
Finally, the analyst say that payment altcoin XRP is preparing for a breakout based on the Bollinger Bands.
Traders use Bollinger Bands to identify potential periods of volatility increase and determine whether an asset is overbought or oversold.
“The Bollinger Bands are pressing on the XRP daily chart, indicating a major price move is underway!”
XRP is trading at $2.08 at the time of writing, up 1% in the last 24 hours.
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Generated image: Midjourney