Popular crypto analyst Ali Martinez predicts an explosive rally for VET if history repeats itself. The analyst nicknamed Altcoin Sherpa gives his targets for PYTH, which he sees as ‘magical’.
VET price prediction: These levels are on the cards for the altcoin!
Cryptocurrency analyst Ali Martinez says that the native token of institutional Blockchain VeChain (VET) could witness a four-digit increase in its price before the end of the year if it follows the price trajectory of four years ago. According to the analyst’s chart, before VeChain’s bull run that resulted in a gain of over 3,000% in 2020, the altcoin traded in a range of 595 days. Currently, VeChain has broken above the resistance level of a range that has existed for approximately 644 days. Martinez shares the following assessment:
Looks like it’s going to be a big week for VeChain! If history repeats itself, VET could rise to $0.054 this week, experience a brief correction by June, and then rise to $0.70 by November!
VeChain is trading at $0.0488 at the time of writing. To reach Martinez’s target, VET needs to appreciate by 1,400%.
PYTH price prediction: These levels are on the route
The analyst nicknamed Altcoin Sherpa uses Fibonacci extensions for Pyth Network (PYTH) targets. Traders use Fibonacci extensions in technical analysis to predict profit targets and price retracements. They are based on Fibonacci ratios. PYTH has already surpassed the analyst’s initial target of around $0.65. However, it later faced a sale. The 79th ranked altcoin by market cap has witnessed an explosive rise from $0.356 at the beginning of the year. At the time of writing, the token was trading at $0.6087. Altcoin Sherpa’s next targets for the asset are $0.6979 followed by $0.767.
cryptokoin.comAs you follow from, earlier this week the analyst noted that PYTH is in the midst of price discovery, a situation where a coin trades at levels never seen before in its history. Altcoin Sherpa says coins trading in the price discovery zone are “always magical.” Because there is no known resistance left, they tend to enter a strong uptrend.
“Some older altcoins are worth paying attention to, like Chromia!”
Altcoin Sherpa also sees some older altcoins as worth paying attention, including public blockchain platform Chromia (CHR). In this context, the analyst makes the following statement:
Seeing some old coins like CHR come back from the dead makes me think that I shouldn’t be so dismissive of some of these old coins and instead consider trading them more. The problem I see is that they are often in long accumulation patterns and it can take a while for them to really start moving… and my impatient ass won’t hold a position for weeks. However, there are probably plenty of these that look pretty good. I’ll start looking at these more in the next few days/weeks.
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