According to a well-known crypto analyst, there are signs indicating potential rallies for a Telegram-based gaming token.
Ali Martinez informs his 72,600 followers on the platform X that Notcoin (NOT) has shown a bullish signal on its Supertrend Indicator, which generates buy and sell signals based on price trends and volatility.
NOT serves as a community token for the widely-used Telegram tap-to-earn mining game Notcoin.
Martinez states,
“An uptick in buying activity could potentially elevate NOT to between $0.012 and $0.014.”
As of now, NOT is priced at $0.000976, which means a rise to $0.014 would lead to a gain exceeding 40%. Currently ranked 86th by market cap, the crypto asset has already experienced a 13% increase in the last 24 hours.
Additionally, Martinez observes that the decentralized finance (DeFi) platform Maker (MKR) seems to be creating an inverse head and shoulders pattern on the four-hour time frame. This pattern is generally regarded as a bullish reversal indication, suggesting that buyers are willing to step in rather than waiting for prices to drop to recent lows.
The analyst points out that this pattern signals a potential 12% breakout for MKR, currently trading at $1,700. The crypto asset, ranked 65th by market cap, has risen over 5% in the last 24 hours.
On the other hand, Martinez notes that the Tom DeMark (TD) Sequential indicator has provided a bearish signal on the daily chart for LINK, the asset of the decentralized oracle network Chainlink. This signal suggests the potential for a short-term correction.
Traders often employ the TD Sequential Indicator to forecast possible trend reversals for tokens by analyzing the closing prices of the prior 13 bars or candles.
Currently, LINK is priced at $12.72. The 17th-ranked crypto asset by market cap has recorded an increase of over 1% in the last 24 hours.
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Disclaimer: The views expressed at The Daily Hodl are not to be considered financial advice. Investors should conduct their own research before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Be aware that your trades and transfers are your own responsibility. The Daily Hodl does not endorse the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl a financial advisor. Please note that The Daily Hodl is involved in affiliate marketing.
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