A closely watched crypto strategist believes that top memecoin Dogecoin (DOGE) has huge upside potential after a breakout.
Analyst Ali Martinez tells are 85,200 followers on the social media platform
In technical analysis, a bull flag is seen as a continuation pattern, indicating that an asset is consolidating and gearing up for another rally.
“Dogecoin breaks out of the bull flag, which expects a 120% rally to $0.82 as long as the $0.37 support holds.”
DOGE is trading at $0.3771 at the time of writing, down 3.1% in the last 24 hours.
Then the analyst say that layer-2 scale solution Polygon (POL) may 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 (at the money) or losing money (out of the money). at their positions.
“81.60% of Polygon holders are currently ‘out of the money’. With the level of skepticism surrounding this coin, a rally of disbelief could be in store!”
He say that the Polygon project’s network activity is increasing, indicating a possible outbreak.
“Polygon is experiencing a significant spike in on-chain metrics, with daily active addresses, transaction volumes, and whale activity. These are all signs of growing interest and market participation, which generally point to 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 say that the TD Sequential indicator is bullish on 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 thirteen bars or candles.
“The TD Sequential indicator presented a buy signal on the WIF four-hour chart, anticipating a price recovery 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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