One closely watched cryptocurrency trader believes Dogecoin (DOGE) could be primed for a massive rally of over 530%.
Analyst Ali Martinez told his 59,800 followers on social media platform
According to traders, DOGE appears to be consolidating in preparation for a major rally en route to new all-time highs.
“Dogecoin is showing its classic pattern once again! DOGE is currently consolidating out of a descending triangle.
Looking at past trends, we could see the DOGE rocket towards $1 in the coming weeks!”
As of this writing, DOGE is trading at $0.158, suggesting a 538% upside potential if the top memecoin hits its target.
Zooming in, Martinez says the Tom DeMark (TD) sequential indicator has flashed a bullish signal on DOGE’s daily chart.
Traders use the TD Sequential Indicator to predict a potential trend reversal in a token based on the closing price of the previous 9 or 13 bars or candles.
According to analysts, this indicator suggests that DOGE could see a rally lasting 1-4 days.
Next, the analyst also believes that layer 1 protocol Saga (SAGA) is primed for a rally based on the TD Sequential Indicator reading.
“SAGA is trying to nullify the sell signal given by TD Sequential on the 4-hour chart. A sustained close against the $4.87 red line could see this token rise 10% to 40% to $5.39 or even $6.83.”
As of this writing, SAGA is worth $4.37.
The last altcoin on the list of traders is the native asset of Tensor (TNSR), a non-fungible token (NFT) marketplace based on Solana (SOL).
According to analysts, TNSR is threatening to remove immediate resistance around $1.10.
“After a brief fix, TNSR is now cutting TD Sequential’s risk line. A sustained close above $1.10 could continue the recent breakout toward $1.30 or $1.52.”
As of this writing, TNSR is worth $1.05.
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