A widely followed crypto analyst is predicting a huge rally for one Ethereum (ETH) competitor as he updates his predictions on Cardano (ADA) and Polygon (MATIC).
Crypto strategist Ali Martinez tells his 53,500 followers on social media platform
In late February, Martinez correctly predicted that FTM would rise 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.
We move on to Cardano, another rival to Ethereum, Martinez say that if the price continues, mirroring the same pattern seen between 2018 and 2021, the price could eventually rise to $1.40 before eventually breaking out to $5.
“So far, Cardano resembles the pattern observed between 2018 and 2021. Should this fractal persist, expect ADA to consolidate in the $0.55 to $0.80 range in the coming weeks, followed by an increase to $1.70. Following this rebound, expect a period of further consolidation, paving the way for a breakout to $5.”
Cardano is trading at $0.678 at the time of writing, up fractionally over the past 24 hours.
Concluding his analysis with Polygon, Martinez notes that the layer 2 scaling solution is supported by 10,900 addresses between the $1.02 and $1.05 levels.
However, if these addresses are in doubt, the trader says the next column of support can be found near the $0.91 price tag.
“Polygon has found crucial support between $1.02 and $1.05, supported by 10,900 addresses with approximately 608 million MATIC. Should this support disappear, the next essential demand zone is near $0.91, where 35,700 addresses collectively hold 394.6 million MATIC.”
MATIC is trading at $1.08 at the time of writing, up marginally over the last day.
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