Chart patterns suggest the Ethereum (ETH) Layer 2 Scaling Solution altcoin could soar 2,400%, according to a popular cryptocurrency analyst.
Trader Ali Martinez say His 105,800 followers on social media platform
“This pattern shows lower highs looming towards strong horizontal support at $0.285, a classic setup for a potential breakout. If it closes above, we could see a big move.Based on the triangle structure, the breakout target could be $12.Of course, it all depends on a breakout above the resistance. ”
At the time of writing, MATIC is trading at $0.453. The crypto asset, which ranks 127th by market capitalization, has fallen nearly 5% in the past 24 hours.
Regarding Bitcoin (BTC), Mr. Martinez memo The top crypto assets witnessed a sharp rise in the taker-buy ratio of OKX.
“This shows a surge in active purchases, a sign of upward momentum ahead.”
Taker buy/sell ratio is the ratio of long and short volume in the derivatives market.
Martinez too memo Bitcoin is “facing stiff resistance” between $95,090 and $99,800, where 2.4 million wallets purchased more than 2.28 million BTC.
BTC is trading at $91,628 at the time of writing, down nearly 2% over the past day.
Analysts also updated their outlook on top meme asset Dogecoin (DOGE).
“If you like fractals, you’ll love Dogecoin…Next $4 to $23!”
DOGE is trading at $0.31 at the time of writing. The crypto asset, which ranks seventh in terms of market capitalization, has fallen more than 2.5% in the past day.
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