A crypto analyst is predicting some big price jumps for several cryptocurrencies. Let’s take a look at what he’s saying.
Dogecoin’s Potential Breakout
According to analyst Ali Martinez, Dogecoin (DOGE) is poised for a significant rally. He points to a “bull flag” pattern on the four-hour chart, a technical indicator often suggesting further price increases after a period of consolidation. Martinez predicts a potential 120% jump, taking DOGE to $0.82, as long as it holds above the $0.37 support level. At the time of writing, DOGE is trading around $0.3771.
Polygon’s Undervalued Potential
Martinez also has his eye on Polygon (MATIC), a layer-2 scaling solution for Ethereum. He notes that a large percentage (81.6%) of Polygon holders are currently “out of the money,” meaning they’re holding at a loss. This, he argues, could lead to a “disbelief rally” as investors start buying back in. He cites increasing network activity, including daily active addresses and transaction volume, as further positive signs. Polygon is currently trading at $0.4349.
Dogwifhat (WIF) Showing Bullish Signals
Finally, Martinez highlights Dogwifhat (WIF), another meme coin, as showing bullish signals. He points to the TD Sequential indicator, a tool used to predict potential trend reversals, which is flashing a buy signal. This suggests a possible price increase to $3.80. WIF is currently trading at $3.11.
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