The cryptocurrency market started the new week with a mixed outlook. While the leading crypto Bitcoin tried to maintain 51 thousand dollars, the leading altcoin Ethereum exceeded 3 thousand dollars. In this environment, a popular analyst in the market says that Dogecoin will experience a meteoric rise in the coming months. The analyst is also bullish on another meme coin, PEPE. However, he warns that the price of ADA Coin will decline.
Analyst predicts an explosive move for DOGE!
cryptokoin.comAs you follow from , the market entered the red zone with exceptions. However, analysts are hopeful for the future for some tokens. Popular crypto analyst Ali Martinez says Dogecoin reflects the 2020 market structure. The analyst shares a chart that suggests DOGE could rise exponentially by approximately 11,541% from current levels if the pattern repeats. In this context, the analyst makes the following statement:
Dogecoin’s price action shows familiar patterns reminiscent of 2020 behavior. At that time, DOGE emerged from a descending triangle, entered a period of consolidation, and then skyrocketed 28,770%. Currently, DOGE appears to reflect this pattern: after breaking out of a descending triangle, it is now in a consolidation phase, potentially setting the stage for another significant bull run.
According to the chart, the analyst predicts that DOGE will reach record levels of around $10 towards the end of the year. Meanwhile, at the time of writing, DOGE was trading at $0.08467.
Ali Martinez: You know where PEPE is going!
The analyst is also closely monitoring the price movements of Dogecoin rival Pepe (PEPE). According to Martinez, PEPE is on the verge of breaking out of its bullish inverse head and shoulders formation. In this regard, the analyst said, “You know where PEPE is going! First $0.00000166, then $0.00000274. Send!” says.
Meanwhile, at the time of writing, PEPE was changing hands at $0.000001424. This means an increase of approximately 9% on the daily chart for the altcoin.
Analyst warns for ADA Coin: It gives a sell signal.
Finally, Ali Martinez looks at the smart contract protocol Cardano (ADA Coin). The analyst warns that the altcoin price is giving a bearish signal based on the Tom Demark (TD) Sequential indicator. The TD Sequential indicator is typically used to identify trend direction and potential price reversals. In this context, Martinez says the following about ADA Coin:
The TD Sequential indicator is showing a sell signal on the three-day chart of Cardano. It is important to note that the last two times this indicator gave a bearish signal, ADA experienced a price correction!
Meanwhile, at the time of writing, ADA Coin was trading at $0.5827. The token stands in the red zone of 0.9% and 7.3% on its daily and weekly charts respectively.
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