A prominent cryptocurrency analyst says meme asset Dogecoin (DOGE) could skyrocket by four digits on a percentage basis for one key reason.
Cryptocurrency trader Ali Martinez tells his 106,500 followers on social media platform
“If Dogecoin continues to follow the upward parallel channel pattern, it could rise another 6,770%!”
The ascending parallel channel pattern is a bullish structure that indicates an asset is in an upward trend, with higher highs and higher lows.
DOGE is trading at $0.31 at the time of this writing, up 251% in the last year.
Next, the analyst said the (TD) sequential indicator is flashing bullish signals for decentralized oracle project Chainlink (LINK).
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.
“TD Sequential presents a buy signal on Chainlink 12-hour chart, anticipating a price rebound!”
LINK is trading at $20.13 at the time of this writing, down 4.3% in the last 24 hours.
Finally, the analyst says payments altcoin XRP is preparing for a breakout based on Bollinger Bands.
Traders use Bollinger Bands to identify periods of potential extended volatility and determine whether an asset is overbought or oversold.
“Bollinger Bands are compressing the XRP daily chart, indicating a major price move underway!”
XRP is trading at $2.08 at the time of writing and is up 1% in the last 24 hours.
Don’t miss a beat – subscribe to get email alerts delivered straight to your inbox
Check Price Action
follow us XFacebook, Telegram
Daily Hodl Mix Surfing
 
Disclaimer: Opinions expressed on The Daily Hodl do not constitute investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrencies, or digital assets. Please note that your transfers and transactions are entirely at your own risk and you will be responsible for any losses you may suffer. The Daily Hodl does not recommend the purchase or sale of any cryptocurrency or digital asset, and The Daily Hodl is not investment advice. The Daily Hodl engages in affiliate marketing.
Image created by: Midjourney