Trader and analyst Ali Martinez said technology looks bullish for both altcoins as the overall cryptocurrency market capitalization reaches its highest in 19 months.
Starting with Optimism (OP), a rival to Polygon (MATIC), Martinez says 38,100 followers on social media platform
A rising parallel channel pattern is formed when the price of an asset falls within three parallel trend lines. When price moves below the midline of a rising parallel channel pattern, it is generally considered a bearish move. When price moves above the midline of a rising parallel channel pattern, it is generally considered bullish.
“If this pattern takes hold, OP could keep his eyes on the upper limit of the channel, potentially targeting around $6.”
Bullish is trading at $3.81 at the time of writing, about 57% below its $6 target.
Switching to Cardano (ADA), Martinez Called The eighth-largest cryptocurrency asset by market capitalization formed a symmetrical triangle on the 4-hour chart. According to Martinez, Cardano could surge if it secures strong support above $0.63.
“This move (a sustained candlestick close above $0.63) would trigger a breakout that could set the stage for ADA to rebound towards $0.78.”
Cardano is trading at $0.648 at the time of this writing.
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