Cryptocurrency analyst Ali Martinez has made a bold prediction for Binance Coin (BNB), suggesting a price increase of 164% if this altcoin achieves a critical weekly close. Martinez also provided forecasts for Bitcoin, Shiba Inu, and Polkadot, attracting significant attention from investors.
The critical level identified for BNB
Martinez shared on social media that BNB is nearing a critical resistance level. "BNB may be on the verge of a breakout move. A weekly close above $662 could pave the way for a price surge to $1,630," he stated.
At the time of writing, BNB is trading at $617, with Martinez emphasizing the importance of breaking the $662 barrier for sustainable growth. He notes that such a breakout could present a significant opportunity for investors to capitalize on the upward momentum of this coin.
Details on Bitcoin, Shiba Inu, and Polkadot
For Bitcoin, Martinez emphasizes the similarities of this asset with previous halving cycles, predicting: "If this pattern continues, BTC could rise to $108,000, drop to $99,000, and then recover to $135,000!" He also points out that RSI indicators support this forecast.
Returning to Shiba Inu (SHIB), Martinez forecasts a 56% increase if this altcoin breaks the critical resistance level at $0.000025. He added, "SHIB could soar to $0.000039 once it surpasses this level."
Polkadot (DOT) is also included in Martinez's analysis, with the analyst predicting a 86% increase if its current upward momentum continues. Martinez stated, "Polkadot is on the right track! The next target is $11," with the current price of DOT at $5.92.
Key points to note for investors
Martinez's prediction provides valuable insights for cryptocurrency investors. The potential breakout of BNB above $662 presents a profitable opportunity, while Bitcoin continues to instill confidence with patterns related to halving. Altcoins like Shiba Inu and Polkadot also present compelling cases for a bullish move.
