A closely followed crypto strategist believes that top memecoin Dogecoin (DOGE) has huge upside potential after a breakout.
Analyst Ali Martinez told his 85,200 followers on social media platform X that DOGE could continue to rise after printing a bull flag pattern over a four-hour period.
In technical analysis, a bull flag is considered a continuation trend, indicating that an asset is consolidating and preparing for a new rally.
“Dogecoin is breaking out of a bull flag, which forecasts a 120% rally to $0.82 as long as $0.37 support holds.”
DOGE is trading at $0.3771 at the time of writing, down 3.1% in the last 24 hours.
Next, the analyst claims that Layer 2 scaling solution Polygon (POL) could 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 (in-the-money), or losing money (out-of-the-money). currency) on their positions. .
“81.60% of Polygon holders are currently “out of the money.” With the level of skepticism surrounding this piece, a rally of disbelief could be on the horizon! »
He says the Polygon Project’s network activity is increasing, signaling a possible breakup.
“Polygon is seeing a significant 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 generally suggest a bullish outlook for POL.
Polygon is trading at $0.4349 at the time of writing, up 1.6% in the last 24 hours.
Finally, the analyst claims that the TD Sequential indicator is showing a bullish trend 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 four-hour WIF chart, anticipating a price rebound to $3.80!
WIF is trading at $3.11 at the time of writing, down 4.9% in the last 24 hours.
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Disclaimer: Opinions expressed on The Daily Hodl do not constitute investment advice. Investors should conduct due diligence before making high-risk investments in Bitcoin, cryptocurrency or digital assets. Please note that your transfers and transactions are at your own risk and any losses you may incur are your responsibility. The Daily Hodl does not recommend the purchase or sale of cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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