Famous crypto analyst Ali Martinez emphasized that Dogecoin has a great potential increase. Also, the TD Sequential indicator for Chainlink gives a buy signal, while exit signals are obtained using Bollinger Bands in XRP.
Martinez stated on social media platform X that Dogecoin (DOGE)’s current price level is $0.323595 and could show a big rise. Stating that Dogecoin could experience a serious increase if it follows its historical price pattern, Martinez focused particularly on the ascending parallel channel pattern. This pattern is a positive structure that shows an asset is rising and creating support levels with higher peaks. He predicted that Dogecoin could show a price increase of 6,770% by following this pattern.
As of today, Dogecoin is trading at $0.31, having increased in value by 251% in the last year.
Technical Analysis for Chainlink and XRP
Martinez also pointed to a key technical indicator for the decentralized oracle project Chainlink (LINK). Chainlink’s price, which is trading at $21.2, is giving a buy signal, according to the TD Sequential indicator. TD Sequential is a technique used to predict trend reversals based on the closing prices of an asset’s previous candlestick. Martinez sees a buy signal on Chainlink’s 12-hour chart, and predicts that the price could start to recover.
Currently, Chainlink is trading at $20.13, down 4.3% over the last 24 hours.
Martinez recently stated that XRP is ready to break out based on the Bollinger Bands indicator. Bollinger Bands are used to determine whether an asset is overbought or oversold and to assess volatility. Noting that the Bollinger Bands are compressed on XRP’s daily chart, Martinez said that this indicates that a major price movement is imminent.
XRP is currently trading at $2.08 and is up 1% over the last 24 hours.
According to technical analysis, the graphic formations shown by Dogecoin, Chainlink and XRP indicate that significant price movements may occur in these cryptocurrencies in the near future. Investors can monitor market trends by taking such indicators into account and determine their investment strategies accordingly.
