A widely respected cryptocurrency analyst is predicting a massive rally for Ethereum (ETH) rivals, updating his predictions for Cardano (ADA) and Polygon (MATIC).
Cryptocurrency strategist Ali Martinez says 53,500 followers on social media platform
In late February, Martinez correctly predicted that FTM would surge to around $0.87. FTM is trading at $0.873 at the time of writing, up 4.5% on the day. On February 28, FTM was trading at $0.464.
Moving to Cardano (Martinez), another competitor to Ethereum Called If it continues on a trajectory that reflects the same pattern seen between 2018 and 2021, it could eventually surge to $1.40 before ultimately breaking out to $5.
“So far, Cardano is similar to the patterns observed from 2018 to 2021. If this fractal continues, ADA is expected to consolidate in the $0.55-$0.80 range in the coming weeks before surging to $1.70. “After this uptrend, we expect a further period of consolidation, setting the stage for a breakout of $5.”
Cardano is trading at $0.678 at the time of writing, a slight increase over the last 24 hours.
Martinez concludes his analysis with Polygon. note The Layer 2 scaling solution is supported on 10,900 addresses between the $1.02 and $1.05 levels.
However, if that address falters, traders say the next column of support could be found near the $0.91 price tag.
“Polygon found significant support between $1.02 and $1.05 supported by 10,900 addresses holding approximately 608 million MATIC. If this support weakens, the next essential demand zone is closer to $0.91 where 35,700 addresses hold a total of 394.6 million MATIC.”
MATIC is trading at $1.08 at the time of this writing, up slightly over the past day.
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