Renowned cryptocurrency analyst Ali Martinez has provided an insightful technical analysis indicating a potential price increase for three prominent cryptocurrencies. Martinez believes that VeChain (VET), Injective (INJ), and Polygon (MATIC) are likely to experience a bullish breakout in the near future.
Martinez’s analysis reveals that VeChain is following a similar pattern to the previous bull cycle, with the cryptocurrency testing the upper boundary of a parallel channel before entering an upward breakout. Currently, the price of VET stands at US$0.03688, showing a 3.0% increase in the last 24 hours and a 5.9% increase over the past week.
The expert also highlights the positive prospects for Injective (INJ), noting that the last two TD Sequential buy signals on the cryptocurrency’s weekly chart resulted in significant bull runs of 700% and 555%. Martinez suggests that with another buy signal from the indicator, INJ may experience another price surge. As of now, the price of Injective is at US$25.59, reflecting a 2.8% increase in the last 24 hours and a notable 13.3% increase in the past two weeks.
Turning to Polygon, Martinez emphasizes the possibility of the cryptocurrency reaching an important four-candlestick high. The TD Sequential indicator presents a buy signal on the MATIC weekly chart, indicating that Polygon could see a rise of one to four weekly candles. Currently, the price of Polygon stands at US$0.739, showing a 2.8% increase in the last 24 hours and a 5.4% increase over the past week.
It is important to note that the views and opinions expressed by the author, as well as anyone mentioned in this article, are solely for informational purposes and should not be considered as financial or investment advice. Investing or trading cryptocurrencies carries inherent risks of financial loss.
In other news, memecoin PEPE has caught up with Bitcoin and Ethereum in terms of trading volumes after recent highs. Additionally, the cryptocurrency Solana (SOL) has been listed on HashKey Global, further expanding its presence in the market.