Cryptocurrency Trader Predicts 30% Uptick for Solana Competitor, Revises Forecasts for Bitcoin, Polygon, and Aave

An expert in cryptocurrency trading with a large following highlights that a Solana rival (SOL) has potential for a 30% surge while also providing updates on Bitcoin (BTC) and other virtual currencies.

A recent analytical session reveals that crypto analyst Ali Martinez shared with his 69,600 followers on X social platform that a specific indicator is suggesting a strong buying opportunity for SUI, the native token of the Sui Network’s layer-1 blockchain and smart contract platform.

“The TD Sequential indicator shows a buy signal on the weekly SUI chart. Holding above the 50-week moving average could lead to a 30% rise, reaching $1.20!”

Traders typically use the Tom DeMark (TD) Sequential Indicator to anticipate trend reversals in asset prices.

Currently, SUI is valued at $0.843, showing a slight upturn in the past 24 hours.

For the decentralized finance (DeFi) project Aave (AAVE), Martinez foresees a potential 27% downturn after the TD Sequential indicated a sell signal on the daily chart, a pattern he claims has occurred in the past.

“AAVE’s daily chart has flashed a sell signal four past instances, each followed by an average drop of 27%. This same sell signal now presents, hinting at a forthcoming decline for AAVE.”

The price of AAVE stands at $135.47, decreasing by 1.1% since yesterday.

The analyst also remarks on the correction faced by the layer-2 solution Polygon (MATIC) after its recent growth period.

“Despite the significant rise of Polygon lately, a cautious approach is recommended. The hourly MATIC chart’s TD Sequential indicates a potential correction ahead.”

The trading value of MATIC is $0.52, with an 8.4% boost over the past day.

Martinez completes his assessment by looking at Bitcoin, suggesting that per historical patterns, BTC is in the initial phase of its bull run post-halving. He also mentions that the sector often rallies after a substantial minting of Tether (USDT).

“We’re 119 days post the 2024 Bitcoin halving. During prior cycles, the peak market was around 530 days after the halving. If this rhythm holds, the current cycle is still in its infant stage!”

Bitcoin’s current exchange rate is $60,330.

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Disclaimer: The views expressed in The Daily Hodl are not investment advice. Before making high-risk investments in Bitcoin, cryptocurrencies, or digital assets, investors should perform due diligence. Note that your transactions and trades are at your own risk, and you are accountable for any potential losses. The Daily Hodl is not an investment advisor and does not endorse the purchase or sale of any cryptos or digital assets. Be aware that The Daily Hodl is involved in affiliate marketing.

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