Renowned crypto analyst predicts that three top altcoins are poised to enter bullish phases, according to a report. Ali Martinez, a popular crypto trader, took to the social media platform X to share his insights with his 62,900 followers. Martinez believes that VeChain (VET), a decentralized supply chain management platform, is on the brink of a significant surge following a successful retest of a parallel channel. He notes that VET has historically retested the upper boundary of a parallel channel before embarking on a bull rally. Currently, VET is valued at $0.0396, showing a 4% increase in the last 24 hours.
Martinez also points to the Injective (INJ) blockchain, a decentralized finance (DeFi) platform, as another altcoin that could experience a bull run. He refers to the Thomas DeMark (TD) Sequential indicator, a technical analysis tool that identifies precise price reversals based on previous closing prices. Martinez highlights that the last two buy signals on the INJ weekly chart led to remarkable bull runs of 700% and 555%. With the indicator now flashing another buy signal, Martinez suggests that INJ may rally once again. At present, INJ is trading at $26.41, showing a 6.2% increase.
Lastly, Martinez believes that Polygon (MATIC), an Ethereum (ETH) layer-2 protocol, is set to scale up. Using the TD Sequential, he observes a buy signal on the MATIC weekly chart, indicating that Polygon may witness a one to four weekly candlesticks upswing. Currently, MATIC is trading at $0.747, showing a 4% increase since yesterday.
Investors are advised to conduct their own research before making any high-risk investments in Bitcoin, cryptocurrency, or digital assets. The Daily Hodl, where the report was originally published, does not provide investment advice or act as an investment advisor.
