Cryptocurrency Expert Predicts Polygon & Bitcoin Surge

Cryptocurrency analyst and trader Ali Martinez recently discussed various cryptocurrencies without using direct quotes.

He highlighted Polygon (MATIC) as a potential performer, suggesting it could surge by nearly 65% to reach $1.73 if it breaks a crucial resistance level.

#Polygon is on the verge of a breakout from a symmetrical triangle. A sustained weekly candlestick close above $0.96 could propel $MATIC towards $1.73! pic.twitter.com/IZQHpSuqO6

— Ali (@ali_charts) December 26, 2023

Martinez also pointed out Polygon’s symmetrical triangle formation, indicating that such patterns can result in bullish or bearish movements based on the breakout direction.

Martinez also addressed Bitcoin (BTC), noting its current position within a parallel channel.

In the 4-hour chart, #Bitcoin is consolidating within a parallel channel, which puts all the focus on the $42,400 support.

A sustained drop below could see $BTC head to $40,700. On the flip side, a rebound from here might set the stage for an upswing toward $44,400. pic.twitter.com/P4f6C97cvL

— Ali (@ali_charts) December 26, 2023

He warned that a drop below the $42,400 support might lead to a decline to $40,700, while a rebound could propel it toward $44,400.

Additionally, Martinez mentioned The Sandbox (SAND), a decentralized virtual reality network, observing a rise in transactions above $100,000 in the last 24 hours.

#TheSandbox | In the last 24 hours, there's been a marked increase in $SAND transactions over $100,000. This uptick indicates rising interest from institutional players and whales in #SAND, often a precursor to notable price spikes. pic.twitter.com/f3gWh1WHuS

— Ali (@ali_charts) December 26, 2023

He suggested that this surge indicated growing interest from institutional investors and larger holders, often preceding significant price movements.

Author

Alexander Stefanov

Reporter at CoinsPress

Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.