A popular crypto analyst says that meme asset Dogecoin (DOGE) could surge by quadruple digits percentage-wise for one key reason.
Crypto trader Ali Martinez tells his 106,500 followers on the social media platform X that if DOGE follows a historic price pattern, the memecoin could surge to $17.76.
“Dogecoin could rally by another 6,770% if it continues to follow the ascending parallel channel pattern!”
An ascending parallel channel pattern is a bullish structure indicating that an asset is in an uptrend, printing higher highs and higher lows.
DOGE is trading for $0.31 at time of writing, up 251% in the last year.
Next up, the analyst says the (TD) Sequential Indicator is flashing 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 13 bars or candles.
“The TD Sequential presents a buy signal on the Chainlink 12-hour chart, anticipating a price rebound!”
LINK is trading for $20.13 at time of writing, down 4.3% in the last 24 hours.
Lastly, the analyst says that payments altcoin XRP is gearing up for a breakout based on the Bollinger Bands.
Traders use Bollinger Bands to identify potential periods of volatility expansion and determine whether an asset is overbought or oversold.
“The Bollinger Bands are squeezing on the XRP daily chart, indicating a big price movement is underway!”
XRP is trading for $2.08 at the time of writing, up 1% in the last 24 hours.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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