1 year ago
95
The post Crypto Market Analysis: Here’s What Next For DOGE, LINK & AXS Price appeared first on Coinpedia Fintech News
The crypto market experienced an upswing, with Bitcoin surging past $32,000 and major coins like DOGE, Chainlink, and Axie Infinity (AXS) making significant gains, igniting investor FOMO. Yet, despite these positive moves, the overall market saw a 2.2% dip over the last 24 hours, with a total valuation of around $1.29 trillion. This dip may signal an impending correction before the next bullish phase. Curious about how to navigate this potential downturn to your advantage? Keep reading!
Prominent trader Ali Martinez is offering insights on potential trends for three significant coins.
Dogecoin (DOGE)
Analyst Ali Martinez, in his tweet, expressed optimism about three coins with strong performance. To start with, he opted for the social media frenzy meme. Dogecoin (DOGE) is poised for an upward swing. The TD Sequential indicator, a tool for signaling possible trend reversals, has flashed a buy signal on the weekly chart for DOGE. He suggests that if DOGE maintains a sustained close above $0.062, it could increase to $0.070.
We all know the game plan on #DOGE right 
pic.twitter.com/KPnEGGh6NB
Echoing a similar sentiment, another analyst Crypto Tony, with a large following on X, predicted last month a remarkable 159% price surge for Dogecoin (DOGE) by April 2024. Considering DOGE’s current price of $0.0656, he foresees the cryptocurrency reaching around $0.17 in that timeframe. As of the latest data, Dogecoin is trading at $0.066. What do you think a 159% surge is hypothetical for a meme coin?
Chainlink (LINK)
Moving to Chainlink (LINK), Martinez takes a more cautionary dip. He highlights the Market Value to Realized Value (MVRV) metric, which indicates a potential price dip for LINK. The MVRV ratio compares an asset’s current market cap to its realized value, pinpointing market tops and bottoms. Data from analytics platform Santiment reveals that when Chainlink’s MVRV 30-day exceeded 20% in the past, LINK experienced substantial corrections. LINK’s MVRV 30-day has breached the 20% mark, signaling a possible impending correction. On the flip side, Chainlink, the top altcoin, saw its LINK token price soar 60% to $11.
Axie Infinity (AXS)
With 98.67% of $AXS holders "Out of the Money," #AxieInfinity is one of those altcoins that looks ready to pop! 
#AXS investors are in disbelief, selling pressure has gotten exhausted, and an important support floor was created around $4. pic.twitter.com/Ift5k2o5kH
In the realm of blockchain-based gaming, Axie Infinity (AXS) catches Martinez’s attention. The analyst notes that AXS seems poised for an upward surge, having successfully established support at $4. Martinez observes a remarkable 98.67% of AXS holders being ‘Out of the Money,’ indicating a potential bullish scenario. Furthermore, he points out that selling pressure appears to have waned, and a crucial support level has been established at around $4. As of now, AXS is valued at $4.70.
These analyses offer valuable insights for traders and investors, highlighting potential trends and price movements for Dogecoin, Chainlink, and Axie Infinity. As always, market participants need to exercise caution and conduct their research before making any investment decisions.
English (US) ·