Ali Martinez Draws Attention to Ethereum-Based Altcoin: 100% Ready to Skyrocket!

Cryptocurrency analyst Ali Martinez has made a remarkable prediction regarding the price of Polygon, one of the Ethereum (ETH)-based altcoins in the top 20.

Martinez believes that the MATIC price could see an immediate increase of 115% from its current levels. According to the analyst, Polygon is forming a symmetrical triangle pattern on the three-day chart and is about to break out of the upper trendline of the pattern.

The symmetrical triangle pattern is interpreted as a bullish or bearish trend will be dominant. If the price rises above the upper trendline, it is bullish, and if it goes below the lower trendline, it is bearish.

According to the analyst, the initial target for MATIC is around $1.25, followed by the nearest target at $1.82. These levels create a good opportunity to complete the identified pattern.

On Ali Martinez's radar is the leading Bitcoin. Citing data from Glassnode, Martinez noted that the BTC market capitalization-to-realized value (MVRV) metric shows $52,680 and $70,250 as the next major price targets.

MVRV is the ratio of Bitcoin's current market capitalization to the realized capitalization of the cryptocurrency (the market value of BTC when the coins were last moved or bought).

Finally, Martinez, who completed his analysis with Chainlink, thinks that the blockchain oracle platform could potentially gain as much as $34, but a drop below its $14.20 price invalidates the bullish outlook on the four-hour chart.

.entry__sponsor { color:#323232; Font- padding:1.4rem 10px; box-shadow: rgba(0,0,0,.18) 0 2px 4px; margin:10px 10px 10px 0; font-size:0.8rem; line-height:1.2; }