A popular cryptocurrency strategist is suddenly bullish on an altcoin linked to a viral game on encrypted messaging platform Telegram.
Analyst Ali Martinez tells his 77,300 followers on social media platform X that Notcoin (NOT) could skyrocket 100% from its current value.
“Notcoin presents a promising risk-to-reward setup. If a falling wedge pattern forms, we could be ready for a bullish move towards $0.012!”
A descending wedge breakout is a technical analysis pattern used to identify a bullish reversal in the price of an asset. This pattern is characterized by a series of lower highs and lower lows that form a wedge-shaped pattern on the chart.
As the pattern progresses, the distance between the highs and lows decreases, indicating that selling pressure is waning. When price breaks out of the upper trend line of a wedge, it is traditionally considered bullish.
NOT is trading at $0.006 at the time of writing, up 7.9% in the last 24 hours.
The analyst is also bullish on Ethereum (ETH), suggesting it could soon reach $6,000.
“Ethereum’s risk-reward ratio is too good to abandon a long position! I have set a stop below $1,880 and am aiming for a target of $6,000.”
Looking at his chart, the analyst suggests that ETH is holding the lower trend line of the rising channel as support and could soon retest the upper limit around $6,100.
Next, the analyst suggests that Dogecoin (DOGE) could see an explosive rally thanks to billionaire Elon Musk. Musk, one of Memcoin’s most high-profile supporters, is now close to US President-elect Donald Trump after playing a role in his election.
The analyst also believes that DOGE could repeat historical patterns based on Fibonacci extensions, which traders use in technical analysis to estimate profit targets and price declines. It is based on Fibonacci ratios.
“With Elon Musk influencing the current 47th President, Donald Trump, Dogecoin is poised for a massive upswing! In past bullish cycles, DOGE broke the 0.50 Fibonacci retracement and then often rebounded to the 1.618 or even 2.272 Fib level. If history repeats itself, DOGE could hit prices between $4 and $23!
Dogecoin is trading at $0.1969 at the time of this writing, up 15% in the last 24 hours.
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