Cryptocurrency analyst Ali Martinez is of the opinion that the popular altcoin Polygon is in an uptrend. Martinez points out to his followers on X that Polygon (MATIC) could rise about 65% from the current level. In this context, if it breaks an important resistance level, it could reach a price of $1.73. says.
According to the analyst, MATIC is “on the verge of a breakout from a symmetrical triangle” that begins to form in 2022. Symmetrical triangles can be either bullish or bearish. It becomes bullish when the price rises to the upper trend line and bearish when the price falls to the lower trend line.
Koinfinans.com As we reported, MATIC is trading at $1.05 at the time of writing.
Martinez later made a prediction for Bitcoin. The analyst is of the view that the price of the flagship crypto asset is shifting within a parallel channel and Bitcoin could fall to $40,700 after it breaks below the $42,400 support level.
On the other hand, a recovery from here could pave the way for an increase towards $44,400.
NEWS CONTINUES BELOW
Bitcoin is trading at $43,069 at the time of writing this news.
The other asset on the analyst’s radar is The Sandbox (SAND). The crypto trader says SAND’s user metrics point to a potential uptrend.
In the last 24 hours, there has been a significant increase of over $100,000 in SAND transactions. This increase indicates increased interest from institutional players and whales in SAND, which often heralds significant price increases.
SAND is trading at $0.605 at the time of writing.