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Home»Analysis»According to Crypto Analyst, Telegram Gaming Token could rise more than 40% based on a trend indicator
Analysis

According to Crypto Analyst, Telegram Gaming Token could rise more than 40% based on a trend indicator

2024-09-28No Comments2 Mins Read
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One indicator suggests that rallies are on the horizon for one Telegram-based gaming token, according to a popular crypto analyst.

Ali Martinez tells His 72,600 followers on the social media platform

NOT is a community token for the popular Telegram-based tap-to-earn mining game Notcoin.

says Martinez,

“Increased buying pressure could push NOT toward $0.012 to $0.014.”

Image
Source: Ali Martinez/X

If it is NOT trading at $0.000976 at the time of writing, a jump to $0.014 would mean a gain of over 40%. The 86th-ranked crypto asset by market capitalization is already up more than 13% in the past 24 hours.

Martinez too notes decentralized finance (DeFi) protocol Maker (MKR) appears to be forming an inverse head-and-shoulders pattern in the space of four hours. An inverted head-and-shoulders structure is typically considered a bullish reversal pattern because it indicates that buyers are no longer waiting for prices to revisit recent lows before taking action.

The analyst notes that the pattern points to a possible 12% breakout for MKR, which is trading at $1,700 at the time of writing. The 65th-ranked crypto asset by market capitalization is up more than 5% in the past 24 hours.

Image
Source: Ali Martinez/X

Conversely, Martinez notes that the Tom DeMark (TD) Sequential indicator presented a bearish signal on the daily chart for LINK, the native asset of the decentralized oracle network Chainlink. The signal indicates the possibility of a short correction.

Image
Source: Ali Martinez/X

Traders use the TD Sequential Indicator to predict potential trend reversals for tokens based on the closing prices of their 13 previous bars or candles.

LINK is trading at $12.72 at the time of writing. The 17th-ranked crypto asset by market capitalization is up more than 1% in the past 24 hours.

See also  Bitcoin price must clear $31,000 for hopes of another rally

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