A widely followed crypto analyst believes three leading altcoins will soon enter a bullish phase.
Crypto trader Ali Martinez tells According to its 62,900 followers on social media platform
“As in the previous bull cycle, VeChain again tests the upper limit of a parallel channel before VET joins a bull rally.”
VET is worth $0.0396 at the time of writing, up 4% in the last 24 hours.
Looking at the decentralized finance (DeFi) blockchain Injective (INJ), Martinez sees a historical precedent for an upcoming bull run. Martinez is referring to the Thomas DeMark (TD) Sequential indicator, a technical analysis tool that aims to pinpoint precise price reversals based on the closing prices of the previous nine and fourteen intervals.
“The last two buy signals from the TD Sequential on the Injective weekly chart led to impressive bull runs of 700% and 555%. Now this indicator is giving a new buy signal, indicating that INJ could rise again!”
INJ is trading at $26.41 at the time of writing, up 6.2% on the day.
Referring again to the TD Sequential, the crypto analyst say that the Ethereum (ETH) layer-2 protocol Polygon (MATIC) is about to scale.
“The TD Sequential presents a buy signal on the MATIC weekly chart, anticipating the expectation that Polygon will see a weekly candlestick rise of one to four weeks!”
MATIC is currently trading at $0.747, up 4% since yesterday.
Don’t miss a beat – Subscribe to receive email alerts straight to your inbox
Check price action
follow us on X, Facebook And Telegram
Surf to the Daily Hodl mix
Featured image: Shutterstock/Kit8.net