A closely watched cryptocurrency analyst believes an Ethereum (ETH) challenger is gearing up for a breakthrough rally that could see it take gains of around 200%.
Trader Ali Martinez told his 37,800 followers on social media platform
According to Martinez, a move above the pattern’s resistance would trigger a rally that could send the altcoin to levels last seen in April 2022.
“fantasy On the weekly chart, it appears to be forming a ‘W’ pattern. If the FTM If the weekly close remains above $0.57, we will confirm this bullish formation and march towards $1.60!”
As of this writing, FTM is trading at $0.532.
Traders are also closely following the price action of Worldcoin (WLD), an iris biometric cryptocurrency project. According to analysts, WLD is currently trading above the diagonal resistance line in a bullish continuation pattern.
“Worldcoin shows signs of breaking out from the bull flag on the 4-hour chart! If confirmed, this could pave the way for WLD to enter an 80% rally targeting $6.30.”
As of this writing, WLD is trading at $3.67, down more than 5% in the last 24 hours, but still above analysts’ diagonal resistance.
Looking at blockchain-based gaming ecosystem The Sandbox (SAND), the analyst believes the altcoin is poised to move higher after moving resistance levels based on the number of wallets holding SAND at key price levels.
“Sandbox Anything above $0.55 is a bullish opportunity! The path ahead is clear and without much resistance. sand You can set higher goals. The next critical resistance wall is between $0.90 and $1.35, with 447 million held in 23,000 addresses. sand.”
As of this writing, SAND is worth $0.61.
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