Crypto Analyst Predicts Big Dogecoin Rally After DOGE Prints Bullish Pattern – Here’s His Price Target
A closely followed crypto strategist believes that top memecoin Dogecoin ( DOGE ) has massive upside potential after a breakout.
Analyst Ali Martinez tells his 85,200 followers on the social media platform X that DOGE may continue to surge after printing a bull flag pattern on the four-hour timeframe.
In technical analysis, a bull flag is viewed as a continuation pattern, indicating that an asset is consolidating and gearing up for a fresh rally.
“Dogecoin is breaking out of a bull flag, which anticipates a 120% rally to $0.82 as long as the $0.37 support holds.”
Source: Ali Martinez/X
DOGE is trading for $0.3771 at time of writing, down 3.1% in the last 24 hours.
Next up, the analyst says that layer-2 scaling solution Polygon ( POL ) may be gearing up for a rally.
Martinez shares an In/Out of the Money Around Price (IOMAP) chart, which aims to show addresses that are profiting (in the money), breaking even (at the money), or losing money (out of the money) on their positions.
“81.60% of Polygon holders are currently ‘out of the money.’ With the level of skepticism surrounding this coin, a disbelief rally could be on the horizon!”
Source: Ali Martinez/X
He says that Polygon’s project’s network activity is increasing, which signals a potential breakout.
“Polygon is experiencing an important spike in on-chain metrics, with daily active addresses, transaction volume and whale activity. These are all signs of growing interest and market participation, which typically suggest a bullish outlook for POL.”
Source: Ali Martinez/X
Polygon is trading for $0.4349 at time of writing, up 1.6% in the last 24 hours.
Lastly, the analyst says that the TD Sequential indicator is flashing bullishness for the popular meme asset dogwifhat ( WIF ).
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 indicator presented a buy signal on the WIF four-hour chart, anticipating a price rebound to $3.80!”
Source: Ali Martinez/X
WIF is trading for $3.11 at time of writing, down 4.9% in the last 24 hours.
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inboxCheck Price Action
Follow us on X , Facebook and Telegram
Surf The Daily Hodl Mix
Generated Image: Midjourney
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
UBS: US Companies’ Capex Willingness Rebounds from Bottom, Further Rate Hikes May Have Limited Impact on Economy
UBS believes that traditional U.S. investments have been subdued for a long time and are at a low level, with limited room for further rate hikes to have an impact. Meanwhile, corporate operating cash flow has increased by 25%, providing sufficient internal funds, which may weaken the transmission effect of interest rates on Capex. As capital expenditure willingness rebounds from historic lows and non-AI investments show signs of stabilization, U.S. corporate investment may be entering a recovery phase.
As Nscale submits its IPO application, Bernstein "diagnoses" AI computing power cloud: CoreWeave (CRWV.US) "underperforms the market," IREN (IREN.US) "outperforms the market"
Last Friday, the emerging British AI computing power company Nscale officially submitted its S1 prospectus. This long-anticipated document offers a new reference point for Bernstein to analyze the business model, competitive barriers, and potential risks of the new generation of computing power cloud sector.
Cardano rises 17% in one month, eyes top 10 amid market rally
Crypto prices
More
