A closely followed trader is expressing bullish sentiment on a leading memecoin as the crypto markets come to life.

The crypto analyst known as Ali Martinez tells his 31,500 followers on the social media platform X that Dogecoin (DOGE) looks poised to start trending to the upside.

According to the analyst, the Tom DeMark (TD) Sequential indicator just flashed a bullish signal for DOGE. The TD indicator traces a series of price points to signal possible trend reversals.

Says Martinez,

“Dogecoin appears ready to start a new uptrend! The TD Sequential presented a buy signal on DOGE weekly chart. A sustained close above $0.062 could result in an upswing to $0.070.”

Dogecoin is trading at $0.066 at time of writing.

Next up is the blockchain oracle network Chainlink (LINK). Martinez says that Chainlink’s Market Value to Realized Value (MVRV) is hinting at a possible fall in price.

The MVRV compares an asset’s total market cap to its realized value and can be used to time market tops and bottoms.

“Data from [analytics platform] Santiment shows that the last three times Chainlink MVRV 30-day surpassed 20%, LINK underwent a steep correction!

Notice that LINK MVRV 30-day recently surpassed 20%, suggesting an imminent correction.”

Martinez is also keeping an eye on the blockchain-based game Axie Infinity (AXS). According to the analyst, AXS looks ready to rally

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Author: Mark Emem

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