A popular crypto analyst claims that the meme asset Dogecoin (DOGE) could rise by four digits in percentage terms for one key reason.
Crypto trader Ali Martinez tells his 106,500 followers on social media platform
“Dogecoin could bounce 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 at $0.31 at the time of writing, up 251% in the last year.
Next, the analyst claims that the sequential indicator (TD) is sending 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.
“TD Sequential shows a buy signal on the Chainlink 12-hour chart, anticipating a price rebound!”
LINK is trading at $20.13 at the time of writing, down 4.3% in the last 24 hours.
Finally, the analyst claims that altcoin XRP payments are preparing for a breakout based on Bollinger bands.
Traders use Bollinger Bands to identify potential periods of volatility expansion and determine whether an asset is overbought or oversold.
“Bollinger Bands are tightening on the XRP daily chart, indicating that a significant price movement is underway!”
XRP is trading at $2.08 at the time of writing, up 1% in the last 24 hours.
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