Cryptocurrency analyst Ali Martinez has given a new price target for the world’s largest memecoin, Dogecoin (DOGE), in his latest statement and also expressed his new outlook on the cryptocurrency market.
Ali Martinez stated that if DOGE price breaks the resistance at $0.169, the price could spike to $0.209, representing a 27% gain.
At the time of writing, DOGE is trading at $0.156 and has gained 16% over the past week. The decline over the past 24 hours has seen DOGE’s price drop by 3.46%, bringing the price down slightly to its current levels.
Additionally, speaking about the crypto market in general, the analyst reported that traders on Binance, the world's largest crypto exchange, have gradually started closing their short positions and 52.44% of traders on the exchange are currently in long positions.
Speaking of Ethereum, the analyst said that the TD Sequential indicator on the ETH chart recently flashed a bullish signal on the 4-hour candle and argued that a recovery is possible. The analyst added that for this to happen, ETH price needs to stay above the $2,480 support level.
