Crypto Analyst Predicts Dogecoin (DOGE) is Poised for a Bull Run – Key Indicators to Monitor

A prominent figure in cryptocurrency trading suggests Dogecoin (DOGE) might be on the cusp of a bullish trend. This prediction comes from an esteemed crypto analyst who shares their insights with a substantial following online.

Ali Martinez, a recognized technical analyst, communicates to his 71,100 audience members on platform X about two “crucial indicators” to watch for a potential DOGE rally.

One of the factors for traders to heed, according to Martinez, is whether Dogecoin’s Daily Relative Strength Index (RSI) surpasses its declining trendline. A valuable tool for measuring momentum, the RSI fluctuates between 0 and 100, with readings over 70 indicating an overbought condition, and below 30 suggesting an oversold status.

Martinez also highlights that a key driver for DOGE’s momentum might be its ability to break through the $0.11 resistance level. At the point of this writing, Dogecoin stands at about $0.106, reflecting a more than 5% uptick in the last day.

Turning attention to other alternative cryptocurrencies, Martinez also points out that XRP saw significant accumulation by crypto whales, with 380 million XRP valued at roughly $228 million being purchased in a span of ten days.

At the moment of writing, XRP is priced at $0.593, with its market position at number seven and showing nearly a 3% increase over the last 24 hours.

In a different observation, Martinez remarks on Ethereum’s (ETH) recent activities, noting that over the past three weeks, 547,600 Ethereum (ETH) worth in excess of $1.26 billion has been transferred to cryptocurrency exchanges.

Currently, ETH trades at approximately $2,468, marking an increase of over 6% in the past day.

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Disclaimer: The views expressed within The Daily Hodl are not to be considered as financial advice. Before engaging in high-stakes investments in Bitcoin, cryptocurrencies, or digital assets, investors are advised to thoroughly investigate. Your trading and transfer risks are borne solely by you, and any incurred losses are your own responsibility. The Daily Hodl does not operate as an investment advisor and disclaims endorsement of buying or selling any cryptos or digital assets. The Daily Hodl participates in affiliate marketing.

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