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As Bitcoin hovers around the $70,000 mark, an influential crypto analyst has offered an optimistic forecast for three prominent altcoins. The analyst, known for his insightful market comments, expects bullish movements from VeChain (VET), Injective (INJ), and Polygon (MATIC), each showing promising indicators of upcoming rallies.
What Drives VeChain’s Potential Rally?
Crypto analyst Ali Martinez has been vocal on social media, particularly about VeChain, a decentralized supply chain management platform. According to Martinez, VeChain has re-tested the upper boundary of a parallel channel, similar to patterns seen in previous bull cycles. This technical setup suggests VET could soon embark on a significant upward trend. Access COINTURK FINANCE to get the latest financial and business news.
Currently, VeChain is trading at $0.03686, reflecting a 4% increase over the past 24 hours. The market capitalization is approaching $2.7 billion, with a 24-hour trading volume surge of 30% to $64 million.
Could INJ and MATIC See Price Surges?
Martinez also analyzed Injective (INJ), a decentralized finance blockchain, noting a historical pattern that points to a potential price surge. Using the Thomas DeMark (TD) Sequential indicator, he identified a new buy signal. In past instances, such signals have preceded significant bull runs for INJ, with increases of 700% and 555%.
Currently, INJ is priced at $25.97, following a 5.4% rise within a day. Martinez also turned his attention to Polygon (MATIC), an Ethereum layer-2 protocol. The TD Sequential indicator on MATIC’s weekly chart predicts a potential rise spanning one to four weeks.
MATIC is currently trading at $0.7477, with a near 5% increase in the last 24 hours. Additionally, its 24-hour trading volume has surged by 64%, reaching $293 million.
Key Takeaways for Investors
Investors should note the following insights for actionable strategies:
– VeChain’s bullish setup based on its re-test of a parallel channel boundary.
– Potential for INJ’s price to surge following a new buy signal from the TD Sequential indicator.
– MATIC showing signs of price increases based on TD Sequential predictions.
Martinez’s analysis suggests significant potential for these altcoins, making them worth monitoring for investors looking to capitalize on anticipated bullish trends.