Analyst and trader Ali Martinez is bullish on one large cryptocurrency asset, providing insight into Bitcoin (BTC) and two altcoins.
Martinez told his 85,900 followers on social media platform
“BNB may collapse soon. We await a weekly close above $662 for a potential rally to $1,630!”
BNB is trading at $617 at the time of this writing.
Next is Bitcoin. According to Martinez, Bitcoin’s current price action appears to reflect the third halving cycle, with the Relative Strength Index (RSI), an indicator used to determine overbought or oversold conditions, looking “almost identical.”
“If true, BTC would go to $108,000, then fall to $99,000, then rebound to $135,000!”
At the time of this writing, Bitcoin is trading at $97,282.
Next is Shiba Inu (SHIB). Martinez says that if SHIB convincingly overcomes key resistance levels, the second-largest memecoin by market capitalization could rise by about 56%.
“Shiba Inu faces resistance at $0.000025 where 40,000 addresses have purchased 54.6 trillion SHIB. If this supply barrier is consistently surpassed, SHIB could rise to $0.000039.”
As of this writing, Shiba Inu is trading at $0.0000252.
Below is the native token of the layer 1 blockchain Polkadot (DOT). Martinez said Polkadot could rise about 86% from current levels if its current momentum continues.
“Polkadot is progressing as planned! Next stop: $11!”
Polkadot is trading at $5.92 at the time of this writing.
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Disclaimer: Opinions expressed on The Daily Hodl do not constitute investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrencies, or digital assets. Please note that your transfers and transactions are entirely at your own risk and you will be responsible for any losses you may suffer. The Daily Hodl does not recommend the purchase or sale of any cryptocurrency or digital asset, and The Daily Hodl is not investment advice. The Daily Hodl engages in affiliate marketing.
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