A widely followed crypto analyst is predicting a massive rally for one Ethereum (ETH) competitor while updating his forecasts on Cardano (ADA) and Polygon (MATIC).
Crypto strategist Ali Martinez tells his 53,500 followers on the social media platform X that he envisions layer-1 blockchain Fantom (FTM) to surge to a price tag of $1.44, a gain of over 80% from its current price.
Near the end of February, Martinez had correctly predicted that FTM would surge to around the $0.87 mark. FTM is trading for $0.873 at time of writing, a 4.5% increase on the day. On February 28th, FTM was trading for $0.464.
Moving on to Cardano, another rival of Ethereum, Martinez says that should it continue its trajectory, which is mirroring the same pattern it displayed between 2018 and 2021, it could eventually skyrocket to $1.40 before ultimately breaking out to $5.
“So far, Cardano resembles the pattern observed from 2018 to 2021. Should this fractal continue, anticipate ADA to consolidate in the $0.55 to $0.80 range in the coming weeks, followed by a surge to $1.70. After this upswing, expect a period of further consolidation, setting the stage for a breakout to $5.”
Cardano is trading for $0.678 at time of writing, a fractional increase during the last 24 hours.
Concluding his analysis with Polygon, Martinez notes that the layer-2 scaling solution is being supported by 10,900 addresses between the $1.02 and $1.05 levels.
Should those addresses waver, however, the trader says the next column of support can be found near the $0.91 price tag.
“Polygon has found crucial support between $1.02 and $1.05, supported by 10,900 addresses holding around 608 million MATIC. Should this support falter, the next essential demand zone lies near $0.91, where 35,700 addresses collectively hold 394.6 million MATIC.”
MATIC is trading for $1.08 at time of writing, a marginal increase during the last day.
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inboxCheck Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
Featured Image: Shutterstock/Sensvector
The post Analyst Predicts Over 80% Rally for Under-the-Radar Ethereum Rival, Updates Forecast on Cardano and Polygon appeared first on The Daily Hodl.
