One cryptocurrency strategist believes that altcoins initially built on the Ethereum (ETH) blockchain could see astronomical gains.
Analyst Ali Martinez told his 62,100 followers on social media platform
If VET continues to follow the script, Martinez predicts that the altcoin will see massive gains of more than 1,660% before the year expires.
“Fractal refers to: VeChain (veterinarian) is expected to rebound this summer, with explosive growth expected in the fall.”
Looking at the trader’s chart, he seems to be predicting that VET will rise to $0.60 by the end of 2024. As of this writing, VET is worth $0.0339.
Next, Martinez said memecoin Shiba Inu (SHIB) is poised for a breakout rally.
“If Shiba Inu breaks the upper limit of this descending parallel channel at $0.00002444, SHIB could rise 20% to $0.00002954!”
A descending parallel channel is a bearish structure that generally indicates that an asset is in a downward trend. As of this writing, SHIB is worth $0.0000233.
The final altcoin on Martinez’s radar is the decentralized oracle network Chainlink (LINK). According to traders, the Tom DeMark (TD) Sequential Indicator is bullish for LINK.
Traders use the TD Sequential indicator to predict potential trend reversals in tokens based on the closing prices of the previous 13 bars or candles.
Martinez says:
“TD Sequential presents a buy signal on the Chainlink weekly chart, indicating that LINK may experience a sustained uptrend lasting 1-4 weeks.”
As of this writing, LINK is trading at $13.43.
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