Trader predicts Ethereum-based altcoins could explode by more than 2400%, updates bitcoin forecast - The Daily Hodl
According to a popular crypto analyst, Ethereum-based #altcoins (ETH) Layer 2 scaling solution Charts show, that it could explode by more than 2,400% -
trader Ali Martinez told 105,800 subscribers of social media platform X that Polygon (MATIC) has been in a multi-year descending triangle since 2021. According to him, it is building
This pattern is typical of a potential breakout as it shows that the lower high is pushing off strong horizontal support at $0.285. If the triangle breaks above the descending resistance line at $0.69, we can talk about a major move. Based on the structure of the triangle, the breakout target could be $12. Of course, it depends on whether the closing resistance line will be exceeded. '
#MATIC is trading at USD 0.453 at the time of writing. This crypto-asset, ranked 127th by market capitalization, has fallen nearly 5% in the last 24 hours.
As for #bitcoin (BTC), Martinez notes that OKX is seeing a surge in the buy/sell ratio of this crypto-asset.
It's a surge of aggressive buying.
The buy/sell ratio is the ratio between long and short volumes in the derivatives market. At the time of writing, BTC was trading at $91,628, down almost 2% over the past day.
The analyst also updated his forecast for Dogecoin (DOGE), a major meme asset.
If you like fractals, you'll love Dogecoin: ......... Next, from $ 4 to $ 23!
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