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08/15 19:57

Analyst Says Solana Offering Final Chance Before Exploding to New All-Time High, Maps Path Forward f

Cryptocurrency trader and analyst Ali Martinez believes that Solana (SOL) may be on the verge of an explosive breakout to a new all-time high.Martinez tells his 146,400 followers on X that the top Ethereum (ETH) rival is on the brink of a strong impulse to the upside.The analyst says that SOL is forming an ascending triangle on the 12-hour time frame, a bullish formation that’s confirmed when the price breaches the upper horizontal trend line.He also uses Fibonacci extension levels to suggest SOL may increase more than 92% from its current level. Traders use the Fibonacci extension tool to identify potential entry and exit levels for an asset based on the Fibonacci ratio. “Solana may offer a final buy-the-dip chance before targeting $360!”SOL is trading for $187 at time of writing, down 4.3% in the last 24 hours.Next up, the says that the layer-1 blockchain Avalanche (AVAX) may see a more than 56% increase from its current value if it can flip the $27 level into support.“If Avalanche can break past $27, the path to $32 or $37 will be clear.”AVAX is trading for $23.70 at time of writing, down 1% in the last 24 hours.He also says that Sei (SEI) may be forming a bullish descending triangle. In technical analysis, a descending triangle is considered bullish if the price of an asset breaks out from the above descending trend line.“SEI is on the brink of a 160% bull rally to $0.90!”SEI is trading for $0.31 at time of writing, down 5.4% on the dayNext up, he says that smart contract platform Cardano (ADA) may soon increase by more than 63% from its current value, based on Fibonacci extension levels.“ADA is on the verge of a breakout to $1.50!”ADA is trading for $0.92 at time of writing, up marginally in the last 24 hours.Lastly, Martinez says that ETH competitor Sui (SUI) may nearly double its current value after retesting a breakout level of a symmetrical triangle pattern.“SUI bullish retest complete, targeting $7!”SUI is trading for $3.64 at time of writing, down 3.6% in the last 24 hours.Generated Image: Midjourney
#Buy Bitcoin’s dip,’ says Eric Trump#Whose “child” is ES — Solana or Ethereum?#Do you think Tanssi is promising?
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