Most of the indicators for forex trading can predict the market movement, accurately on it's historical value and not it current action. Can any forex indicator predict market movement accurately?
you can never predict anything , even in forex markets.
what you do is guessing the future price. and to answer your question i have to say yes and no. because price around here is a little bit different than forex but also the same in many aspects.
so what i suggest is using whatever indicator you can but don't rely too much on them.
Although you cannot exactly predict the altcoin prices but the first thing to look is at the buy orders. The more the buy orders , means people interested in purchasing this coin and hence you can safely invest in it.