Cryptocurrency analyst Ali Martinez has made a new price target for the world's largest memecoin, Dogecoin (DOGE), in his latest statement and also expressed his new views on the cryptocurrency market.
Ali Martinez claimed that if the DOGE price breaks the resistance level at $0.169, the price could skyrocket to $0.209, with a 27% rally.
At the time of writing, DOGE is trading at $0.156 and has gained 16% in the last week. The decline in the last 24 hours has caused the DOGE price to drop by 3.46%, causing the price to drop slightly to its current level.
In addition, speaking about the general cryptocurrency market, the analyst reported that traders on Binance, the world's largest cryptocurrency exchange, have gradually started to close their short positions, and 52.44% of traders on the exchange are currently in long positions.
Speaking about Ethereum, the analyst said that the TD Sequential indicator of the ETH chart recently gave a bullish signal on the 4-hour candles and argued that a bounce could occur. The analyst added that for this to happen, the ETH price needs to stay above the $2,480 support.
*This is not investment advice.