Trader Predicts 2,230% Rally for One Under-the-Radar Altcoin, Says Bullish Leap in Sight for Cardano and Fantom - The Daily Hodl
A crypto strategist thinks that one altcoin that’s trading under the radar could repeat its mid-2020 price action en route to printing massive gains. Analyst Ali Martinez tells his 35,900 followers on the...
A crypto strategist thinks that one altcoin that’s trading under the radar could repeat its mid-2020 price action en route to printing massive gains.
Analyst Ali Martinez tells his 35,900 followers on the social media platform X that supply-chain management blockchain VeChain (VET) looks poised to break out of its immediate resistance at $0.033.
According to the analyst, VET appears to be mirroring its consolidation between 2018 to 2020 and a breakout could push the altcoin to his long-term target of $0.70.
“VeChain, the forgotten Chinese Ethereum, appears to mirror the consolidation phase we saw in 2018-2020! If so, VET could break through the $0.033 resistance barrier within the next two weeks. The upswing could send VET to $0.077 by late January. That’s a 150% price increase!”
At time of writing, VET is trading for $0.030, suggesting an upside potential of about 2,230% if the altcoin hits the analyst’s long-term target.
Looking at the smart contract platform Cardano (ADA), the analyst notes that the altcoin is in a position to take out its diagonal resistance.
“Cardano is forming a descending triangle on the lower time frames. A sustained close above $0.638 could trigger a bullish breakout, potentially propelling ADA toward $0.700.
However, keep a close eye on the $0.613 support. Any weakness at this level could dampen the ADA bullish momentum.”
At time of writing, ADA is worth $0.614.
As for Ethereum (ETH) rival Fantom (FTM), the trader says that the altcoin is currently trading at a key resistance level and a breakout could ignite a nearly 50% surge.
“Fantom has hit a significant resistance zone. Over 1,430 addresses hold 657.60 million FTM accumulated between [$0.44] and $0.46.
For a bullish leap, FTM needs to break through this area decisively. If it succeeds, we could see a 45% rally, aiming for $0.65.”
At time of writing, FTM is trading for $0.42.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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