The cryptocurrency market is in the red zone on the first day of the new year. There is an air of fatigue in the market for now. However, analysts predict new runs for the future. A popular crypto analyst predicts that Dogecoin (DOGE Coin) will make a relentless run for an important reason. The analyst also expects bull moves in XRP and LINK.
Ali Martinez predicts a 6,770% rise for DOGE Coin!
As you follow from Kriptokoin.com, there is a stagnation in the market for now. However, there are signs that this situation will change after the holidays. Popular crypto analyst Ali Martinez says the DOGE Coin price could rise to $ 17.76 if it follows a historical price pattern. In this context, the analyst says, ‘Dogecoin can rise another 6,770% if it continues to follow the rising parallel channel pattern!’
The ascending parallel channel pattern signals that an asset is in an uptrend. It is also a bullish structure, indicating that it prints higher highs and higher lows. Meanwhile, DOGE Coin was trading at $0.317 at the time of writing. The original meme coin has risen 251% in the last year.
An important indicator gave a ‘buy’ signal for LINK!
The analyst then looks at the decentralised oracle project Chainlink (LINK). Ali Martinez says the (TD) Sequential Indicator gives a bullish signal for LINK. Traders use the TD Sequential Indicator to predict potential trend reversals for tokens based on the closing prices of the previous nine or 13 bars or candles. Accordingly, the analyst says, ‘TD Sequential offers a buy signal predicting a price rebound on the Chainlink 12-hour chart!’ Meanwhile, LINK was trading at $ 20.71 at the time of writing, up 1.91% in the last 24 hours.
Analyst says XRP is preparing for a big move!
Finally, the analyst discusses Ripple’s native token XRP. The analyst says XRP is preparing for a breakout based on Bollinger Bands. Investors use Bollinger Bands to identify potential periods of volatility expansion and to determine whether an asset is overbought or oversold. ‘Bollinger Bands are getting stuck on the XRP daily chart. This shows that a big price movement has begun!’ he says. Meanwhile, XRP was trading at $ 2.24 at the time of writing, up 7.50 per cent in the last 24 hours.
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