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Analyst Predicts Over 80% Rally for Under-the-Radar Ethereum Rival, Updates Forecast on Cardano and Polygon – The Daily Hodl

19 March 2024
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A extensively adopted crypto analyst is predicting a large rally for one Ethereum (ETH) competitor whereas updating his forecasts on Cardano (ADA) and Polygon (MATIC).

Crypto strategist Ali Martinez tells his 53,500 followers on the social media platform X that he envisions layer-1 blockchain Fantom (FTM) to surge to a price ticket of $1.44, a acquire of over 80% from its present value.

Close to the top of February, Martinez had accurately predicted that FTM would surge to across the $0.87 mark. FTM is buying and selling for $0.873 at time of writing, a 4.5% improve on the day. On February twenty eighth, FTM was buying and selling for $0.464.

Shifting on to Cardano, one other rival of Ethereum, Martinez says that ought to it proceed its trajectory, which is mirroring the identical sample it displayed between 2018 and 2021, it might finally skyrocket to $1.40 earlier than finally breaking out to $5.

“Up to now, Cardano resembles the sample noticed from 2018 to 2021. Ought to this fractal proceed, anticipate ADA to consolidate within the $0.55 to $0.80 vary within the coming weeks, adopted by a surge to $1.70. After this upswing, anticipate a interval of additional consolidation, setting the stage for a breakout to $5.”

Supply: Ali Martinez/X

Cardano is buying and selling for $0.678 at time of writing, a fractional improve over the past 24 hours.

Concluding his evaluation with Polygon, Martinez notes that the layer-2 scaling answer is being supported by 10,900 addresses between the $1.02 and $1.05 ranges.

Ought to these addresses waver, nevertheless, the dealer says the following column of help could be discovered close to the $0.91 price ticket.

“Polygon has discovered essential help between $1.02 and $1.05, supported by 10,900 addresses holding round 608 million MATIC. Ought to this help falter, the following important demand zone lies close to $0.91, the place 35,700 addresses collectively maintain 394.6 million MATIC.”

GIjBRxAXAAE-jGP
Supply: Ali Martinez/X

MATIC is buying and selling for $1.08 at time of writing, a marginal improve over the past day.

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Disclaimer: Opinions expressed at The Every day Hodl usually are not funding recommendation. Traders ought to do their due diligence earlier than making any high-risk investments in Bitcoin, cryptocurrency or digital property. Please be suggested that your transfers and trades are at your personal threat, and any loses chances are you’ll incur are your accountability. The Every day Hodl doesn’t suggest the shopping for or promoting of any cryptocurrencies or digital property, neither is The Every day Hodl an funding advisor. Please be aware that The Every day Hodl participates in internet affiliate marketing.

Generated Picture: MidjourneyFeatured Picture: Shutterstock/Sensvector



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Tags: AnalystCardanoDailyEthereumForecastHodlPolygonPredictsRallyRivalUndertheRadarUpdates
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