As Bitcoin continues trading around the $70,000 region, analysts’ comments remain noteworthy. A widely followed crypto analyst in the crypto world has given a bullish outlook on three notable altcoins.
Analyst’s VET Comment
Crypto analyst Ali Martinez continues to draw attention with his statements on the social media platform X. He mentions that the decentralized supply chain management platform VeChain (VET) is approaching a rise after retesting a parallel channel.
As in the previous bull cycle, VeChain is retesting the upper boundary of a parallel channel before entering a bull rally.
VET continues to trade at $0.03686 after a 4% rise in the last 24 hours. Additionally, its market cap is nearing $2.7 billion, while its 24-hour trading volume increased by 30% to $64 million.
INJ and MATIC Price Predictions
Martinez also examined the decentralized finance (DeFi) blockchain Injective (INJ). He highlighted a historical pattern indicating a potential bull run for INJ. Martinez used the Thomas DeMark (TD) Sequential indicator, a technical analysis tool that aims to pinpoint precise price reversals, considering the closing prices of the previous nine and 14 intervals.
The last two buy signals from the TD Sequential on Injective’s weekly chart led to impressive bull runs of 700% and 555%. Now, this indicator is giving another buy signal, suggesting INJ could rise again!
INJ is trading at $25.97 after a 5.4% rise during the day.
The analyst, who consistently examines the TD Sequential, once again directed attention to the charts regarding MATIC. He stated that Polygon (MATIC), which serves as an Ethereum (ETH) layer-2 protocol, might be ready to move.
TD Sequential offers a buy signal on MATIC’s weekly chart, predicting a one to four-week candle rise for Polygon!
MATIC continues to find buyers at $0.7477 after a nearly 5% rise in the last 24 hours. MATIC’s 24-hour trading volume also increased by 64% in parallel with the price, reaching $293 million.
